In the latest digital currency news, we are focusing on cryptocurrency exchanges and a new report that shows that there are over tens of thousands of cryptocurrency exchanges around the globe – and only 187 of them are operational and active.
The ‘2018 Research Report on Cryptocurrency Exchanges’ issued by Timestamp Capital also points out the following:
“In a stagnant market, the head effect (a Chinese market concept similar to the 80-20 effect) is now more evident for cryptocurrency exchanges. The top 6 exchanges have over 3 billion in trade volume each and takes up 58.9% of the total trade volume. The top 14 exchanges have over 100 million in daily trade volume and takes up 73% of the total trade volume.”
As we can all conclude from the above mentioned, the rest of the two hundred (or so) cryptocurrency exchanges only have in total – less than 30% of the entire market share. Moreover, the visits to these exchanges are declining month by month, just like the bitcoin and altcoin trading activity.
Bloomberg had recently reported that the leading exchange, Coinbase, has been hit hard and that its consumers trading activity has decreased by around 80% compared to last December. According to other statistics from CoinMarketCap, Binance trading volume peaked in January 2018 and has fallen 80% since then.
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