An Arcane Research report crowned Binance as the “winner” of 2022 and claimed the exchange “is the crypto market” for capturing 92% of the BTC spot market and 61% of the derivatives market over the year.
“There are no other evident ‘winners’ of 2022 other than Binance when it comes to the crypto market structure and market dominance. No matter how you look at it in terms of trading activity, Binance is the crypto market.”
Binance’s BTC spot market dominance was 45% at the start of 2022 meaning that it more than doubled, while its share of the BTC derivatives market increased by almost one third.The “spot trading volume” is an indicator that measures the total amount of Bitcoin being transacted on spot exchanges on any given day.
The report suggests the increase in Binance’s BTC spot market dominance predated the fallout of the second largest exchange by volume FTX, and began to surge after itThe exchange also made some notable acquisitions to boost its global coverage in 2022 such as the
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