The global market crash in March fueled by a pandemic outbreak has reshaped the ranking of crypto exchanges. Many exchanges experienced significant issues during the crash and some of them managed to perfectly.
According to some of the leading exchanges, their trading volume and institutional customer registrations have surged significantly in 2020. Some of these exchanges include Houbi, CME, and Binance.
Numbers Speak For Themselves
Binance, the biggest crypto exchange has observed a massive boost in its institutional customer volumes. Compared to the prior quarter, volumes have raised over 112%.
Binance spokesperson said, “The number of new institutional clients onboarded in 2020 Q1 was 47.4% higher than in 2019 Q4.”
Continuing with the spot trading volume race, Huobi has also witnessed a similar surge. Its volume has increased by 130% during the first quarter of 2020, and the institutional trading volume of the exchange has reached $101.1 billion.
Similarly, these exchanges have further observed growth in volume on the derivatives side. Binance claims that its institutional customer volume has grown by 217% on a quarterly basis. Huobi, on the other hand, states that its institutional trading volume has grown by 171.16%.
The Chicago Mercantile Exchange (CME) has also seen comparable figures. CME’s bitcoin futures market open interest has grown far quicker compared to other futures markets.
In contrast to May 2019, the daily Bitcoin futures volume has experienced a 24% growth in May 2020.