Crypto-exchange giant Binance writes in the monthly report: The Bitcoin dominance in Trading for five consecutive months to be stable over 40% on the platform.
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Bitcoin still is the king
Binance Research suggests that the domination of the Bitcoin trading volume contribution of the Bitcoin-trading (with BTC as the base currency) in relation to the total spot volume on the platform.
The market overview of the stock market shows that this measure remained in November, about 40%, with a slight increase of 1.45% compared to the October level. It is the fifth month in a row, in which the dominance of the BTC-trading on the stock market of 40% has been reached.
August was with 45,45%, in this regard, the month with the highest value.
Bitcoins market share has been spent, according to Tradingview.com in the meantime, the greatest part of the month, at 68-69%. Even with a correction of 47% of Bitcoin has remained in terms of market dominance is strong, while the Altcoins, in particular, ETH and XRP were destroyed.
The study is supplemented (for market observers may be of little surprise), that BTC has declined in November by 17.5% and also Altcoins, significant price declines were recorded. Some like Litecoin are broken in the last month, almost 30% together.
It also States that the Dumping of the Ethereum price, which led to a monthly loss of 20%, a positive impact on DeFi have effect, where the cumulative ETH-amount to a peak of 4.4 million have been achieved. Maker gave the Multi-Collateral Dai-free operating together with the Single Collateral Dai, has been renamed the Sai.
Binance continues to grow
The Rest of the report is largely Binance-oriented and covers topics such as the enlargement of the BUSD pairs to Tron, EOS, Stellar and Cardano. In November, there were only two new offers in the Cortex and ARPA Chain, four new pairs have been listed on the Binance DEX.
The volume of the decentralized exchange is, however, decreased at the end of the month, with only $ 1.3 million. It looks totally different in the case of the Binance Futures, which continue to grow: The permanent BTC/USDT contract had, in November, average daily volume of 920 million US dollars.
Open Interest has risen steadily and closed in November with an increase of 95% compared to the 31. October.
The Bitcoin and crypto-exchange launched at the end of November her second open-ended contract for Ethereum and offers a 50 times leverage. The options for the Margin Trading have also been expanded to IOTA and Tezos.
The report comes to the conclusion that it is a “negative month” for the crypto-industry – Exchange-Hacks, the crackdown in China and the associated media FUD.