全球加密货币市场前景及投资研究报告-培训课件外文版2024.4

DIGITAL

&

TRENDSCryptocurrenciesCHAPTER

01OverviewNumberofcryptocurrenciesworldwidefrom2013toDecember2023QuantityofcryptocurrenciesasofDecember5,202312,00010,3979,92910,0008,0006,0004,0002,00009,3109,3218,8668,6857,5576,8266,0445,8404,5012,8171,6581,3352017644506562662013201420152016Mar2018Nov2019Feb

Jul2021

Aug2021

2021Oct2021Nov

Jan2022

Feb2021

2022Nov2022Feb2023Aug2023Dec20234Description:Howmanycryptocurrenciesarethere?Inshort,therewereover9,000asof2023,althoughthereweremanymoredigitalcoinsintheearlymonthsof2022.Note,however,thatalargeportionofcryptocurrenciesmightnotbethatsignificant.Thereareotherestimatesofroughly20,000cryptocurrenciesbeinginexistence,butmostoftheseareeitherinactiveordiscontinued.Duetohowopenthecreationprocessofacryptocurrencyis,itisrelativelyeasytomakeone.Indeed,thetop20[...]

ReadmoreNote(s):Worldwide;2013to2023Source(s):CoinMarketCapPricedevelopmentofthetop100cryptocurrenciesasofDecember5,2023(inU.S.dollars)Pricecomparisonandpricechangeofthetop100cryptoasofDecember5,2023Price

(in

U.S.

dollars)24h

price

change0.3%7d

price

change12.9%10.1%0.1%30d

price

change19.0%17.5%0.0%Bitcoin(BTC)$41,719.00$2,209.14$1.00Ethereum(ETH)Tether(USDT)BinanceCoin(BNB)Ripple(XRP)-1.8%0.0%$230.07$0.61-1.8%1.9%-5.2%-3.5%2.5%-1.2%Solana(SOL)$60.18$1.00-5.0%9.5%45.6%0.1%USDC(USDC)0.1%0.1%LidoStakedEther(STETH)Cardano(ADA)Dogecoin(DOGE)TRON(TRX)$2,205.53$0.40-2.3%10.0%8.3%17.0%20.6%27.8%4.9%-1.8%$0.09-0.6%15.0%1.3%$0.10-2.0%Chainlink(LINK)Toncoin(TON)$15.40$2.37-3.8%10.2%-2.1%26.9%4.4%-3.4%5Description:BitcoinrankedasoneofthemostexpensivecryptocurrenciesinexistencebyAugust2023-althoughvalueshaddeclinedsignificantly.BitcoinhadthemostexpensivecryptocurrencyforawhilebutEthereumwassignificantlycheaper,withapricethatwasroughly30timeslessthanthatofthemostwell-knowndigitalcurrency.However,Bitcoinisinasomewhatuniqueposition.Ethereumisoneofseveralcryptocurrencies,forinstance,thatcomefromblockchainsthatfocusonmaking[...]

ReadmoreNote(s):Worldwide;December5,2023,at10:54CET;Figureswereroundedtotwodecimals,andrefertothetop100coinsintermsofmarketcapitalizationSource(s):CoinGecko;CoinMarketCapBiggestcryptocurrenciesintheworldbasedontotalstakedvalueonDecember5,2023Top20cryptocurrencieswiththemostvaluebeingstakedasofDecember5,2023Staked

value

(in

billion

U.S.

dollars)Total

stake23.72%69.88%64.95%84.65%14.48%82.11%50.67%50.47%50.47%37.95%65.42%55.85%69%Reward4.33%6.95%3.13%6.43%2.23%4.58%8.69%4.14%14.01%4.41%14.64%1.08%7.93%Ethereum(ETH)Solana(SOL)63.5423.739.246.685.135.124.934.6Cardano(ADA)Aptos(APT)BNBChain(BNB)Sui(SUI)Avalanche(AVAX)Tron(TRX)Polkadot(DOT)Polygon(MATIC)CosmosHub(ATOM)Hedera(HBAR)InternetComputer(ICP)3.872.82.41.791.756Description:ThestakingvaluesofbothSolanaandCardanomadeuparound70percentoftheircirculatingsupply,apercentagesignificantlyhigherthanforEthereum.Thisdifferencestemsfromhowthecryptocurrenciesarecreated.Ethereum1.0,similartoBitcoin,reliesonamechanismcalled"Proof-of-Work"orPoW,andissimilartomining:Lotsofprocessingpowerisusedtoverifytransactionsontheblockchainandthosewhodoallthatverificationwork-the"miners"-getrewardedwitha[...]

ReadmoreNote(s):Worldwide;December5,2023,at17:41CETSource(s):Website(StakingRewards)CHAPTER

02UsersNumberofidentity-verifiedcryptoassetusersfrom2016toDecember2022(inmillions)Estimateofthemonthlynumberofcryptocurrencyusersworldwide2016-2022450400350300250425402396385356338

340334319

319

32030629522120320015010050142129125106Jan1013518502016

2017

2018

Q3Feb

Mar

Apr

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JunDecJanFeb

Mar

Apr

May

JunJulAug

Sep

Oct

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Dec2020

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2022

20228Description:Theglobaluserbaseofcryptocurrenciesincreasedbynearly190percentbetween2018and2020,onlytoacceleratefurtherin2022.Thisisaccordingtocalculationsfromvarioussources,basedoninformationfromtradingplatformsandon-chainwallets.Increasingdemographicsmightinitiallybeattributedtoariseinthenumberofaccountsandimprovementsinidentification.In2021,however,cryptoadoptioncontinuedascompanieslikeTeslaandMastercardannouncedtheirinterestin[...]ReadmoreNote(s):Worldwide;2016toDecember2022;FiguresasofDecember1,2022;Bothsourcesexplicitlystateallfiguresprovidedareestimates,andeachmethodologyusedhasitslimitationsSource(s):CambridgeJudgeBusinessSchool;CTop15cryptocurrencieswiththehighestaverageofdailyactiveaddressesasofDecember5,2023BiggestcryptobasedondailyactiveaddressesinDecember5,20231,800,0001,600,0001,400,0001,200,0001,000,000800,000600,000400,000200,00009Description:BitcoindidnotregisterthehighestnumberofaddressesthatactivelysentorreceivedBTCcoinsontheblockchaininDecember2023.Indeed,BitcoinwasoutperformedbyTRON(TRX),acryptocurrencythatoncewasapartofEthereumandismostlyassociatedwithaprotocolforhostingTetherandDecentralizedFinance.Bitcoinreachedanaverageofnearly870,000addressesthatmonth-afigurethatsomewhatresembleshowmanyuniqueuserswereactivelybuyingorsellingBTC.By[...]

ReadmoreNote(s):Worldwide;December5,2023;Averagenumberofdailyuniqueaddresses,thatwereactiveontheblockchainnetworkeitherasasenderorreceiverofsaidcrypto.Noteverycryptotracksthismetric.ExamplesincludeSolana,Tether,orStellar.Source(s):CoinMetricsShareofrespondentswhosaidtheyusedcryptocurrencyeitherforinvestmentsortransactionintheUnitedStatesin2023,byage,gender,income,andraceCryptocurrencyusecasesintheU.S.2023,byage,gender,income,raceInvestmentonlyTransactions(includespayments,P2P,remittances)16%14%12%10%8%6%4%2%0%10Description:Americanadultswitharelativelyhighincomeweremorelikelythanadultswithlowerincomestoholdcryptocurrencyasaninvestmenttool.ThisisaccordingtoanannualhouseholdsurveyintheUnitedStates,thataskedabouthowandwhyconsumerswouldbeusingthedigitalasset.Lowerincomesweremorelikelytousecryptocurrencyasatransactionoption-beitforretailpayments,ortosendmoneytofamilyandfriendsinP2Porcross-borderinaremittance.Theuseof[...]

ReadmoreNote(s):UnitedStates;October21,2022,toNovember1,2022;2,000respondents;18yearsandolder;ConsumersSource(s):FederalReserveCHAPTER

03MarketcapBiggestcryptocurrencyintheworld-bothcoinsandtokens-basedonmarketcapitalizationonDecember5,2023(inbillionU.S.dollars)Marketcapof120crypto-inclstablecoin,DeFi,metaverse-inDecember2023Crypto

categoryMarket

cap

in

billion

U.S.

dollarsLow

cap,

mid

cap,

high

capHighcapBitcoin(BTC)StoreofvalueSmartcontracts813.96264.889.8Ethereum(ETH)TetherUSDt(USDT)BinanceCoin(BNB)Ripple(XRP)HighcapStablecoinHighcapExchangetoken(centralized)Payments/digitalcurrencySmartcontracts34.8332.9925.4424.3114.1312.549.09HighcapHighcapSolana(SOL)HighcapUSDC(USDC)StablecoinHighcapCardano(ADA)Dogecoin(DOGE)TRON(TRX)SmartcontractsHighcapMemecoinHighcapPayments/digitalcurrencyExchangetoken(decentralized)/DeFiPayments/digitalcurrencyExchangetoken(decentralized)/DeFiMidcapChainlink(LINK)Toncoin(TON)Avalanche(AVAX)8.53Midcap8.18Midcap8.1Midcap12Description:Aleaguetableofthe120cryptocurrencieswiththehighestmarketcaprevealshowdiverseeachcryptoisandpotentiallyhowmuchriskisinvolvedwheninvestinginone.Bitcoin(BTC),forinstance,hadaso-called"highcap"-amarketcapworthmorethan10billionU.S.dollars-indicatingthiscryptoprojecthasacertaintrackrecordor,attheveryl

consideredamajorinthecryptocurrencyspace.Interestingly,Bitcoinisoneofthe(very)fewcoinslistedas"storeofvalue",orcrypto[...]

ReadmoreNote(s):Worldwide;December5,2023,on10:28CET;Thecategorieslistedhavebeenassignedby

usingvarioussources.Thisbecausetheuseof,forexample,Bitcoin(BTC)isnoticeablydifferentthan,say,Tether(USDT).PleasedonotethatthedistinctionbetweenthesecategoriesisnotalwaysclearcutSource(s):CoinMarketCapBitcoin(BTC),Ethereum(ETH)dominance-theirmarketcaprelativetothemarketcapofallothercryptocurrenciesintheworld-onDecember5,2023Marketdominanceof12cryptocurrenciesonDecember5,2023Shareincryptomarket0%10%20%30%40%50%60%Bitcoin(BTC)Ethereum(ETH)Tether(USDT)BinanceCoin(BNB)Ripple(XRP)54.56%17.6%5.94%2.31%2.18%1.69%1.6%Solana(SOL)USDCoin(USDC)Cardano(ADA)Dogecoin(DOGE)Tron(TRX)0.93%0.84%0.6%Litecoin(LTC)Others0.35%11.38%13Description:BitcoinandEthereumtogethermadeupmorethanhalfofthecryptomarketin2023,althoughother,newercoinshavestartedtoappear.OneexampleisPolkadotorDOT,analtcointhatwentliveinAugust2020butincreasinglyattractedinterestin2021asitwasseenasaviablecompetitortoEthereum'sblockchainstructure.Indeed,sixmonthsafteritsinitialrelease,ꢀthevalueofPolkadotwasalreadysixtimeshigherthanitduringitslaunch.ReadmoreNote(s):Worldwide;December5,2023,on16:31CET;ThesourcemovedLitecoin(LTC)andBitcoinCash(BTC)tothe"Others"columninMarch2022-signifyingtheirdominancehadbecometoolow;Terra(LUNA)droppedoutofthelistafteritsdeclineinMay2022Source(s):TradingViewOverallcryptocurrencymarketcapitalizationperweekfromJuly2010toNovember2023(inbillionU.S.dollars)WeeklymarketcapofallcryptocurrenciescombinedupuntilNovember20233,5003,0002,5002,0001,5001,0005000-50014Description:Itisestimatedthatthecumulativemarketcapofcryptocurrenciesincreasedinearly2023afterthedownfallinNovember2022duetoThatvaluedeclinedinthesummerof2023,however,asinternationaluncertaintygrewoverapotentialrecession.Bitcoin'smarketcapmadeupthemajorityoftheoverallmarketcapitalization.ReadmoreNote(s):Worldwide;July2010toNovember2023;Notethatduetochangingexchangerates,theUSDvaluesasreportedcanchangefromdaytothenext.ThisalsoappliesinretrospectSource(s):BitInfoCharts;CoinGeckoDominanceofBitcoinandothercryptointheoverallmarketfrom2ndquarterof2013to3rdquarterof2023Quarterlymarketshareofselectedcryptocurrencies,basedonmarketcap2013-2023Bitcoin(BTC)Ripple(XRP)Polkadot(DOT)Ethereum(ETH)BinanceUSD(BUSD)ShibaInu(SHIB)Tether(USDT)Cardano(ADA)Dai(DAI)USDCoin(USDC)Solana(SOL)Polygon(MATIC)BinanceCoin(BNB)Dogecoin(DOGE)Other120%100%80%60%40%20%0%15Description:Bitcoin'srolewithintheoverallcryptocurrencymarketdeclinedin2023,whilstEthereumlostterraintostablecoinslikeTetherandUSDCoin.Thisaccordingtoametricthatcomparesacoin'smarketcaprelativetotheoverallcryptomarketcalled"dominance".Thisratioshowsꢀhowstrong,forexample,Bitcoiniscomparedtoalltheothercryptocurrencies.AcomparisonbetweenBitcoinandmultipleothercoinsrevealsthattheshapeofthecryptomarkethaschangeddramaticallyovertime.

ReadmoreNote(s):Worldwide;Q22013toQ32023;ThenumbersprovidedareasoftheendofeachquarterSource(s):CoinGeckoDistributionofstablecoinagainstBitcoin(BTC),Ethereum(ETH)andothercrypto,basedonmarketcapitalizationonDecember5,2023ShareofallstablecoininoverallcryptomarketcaponDecember5,2023Total

market

capShare

in

crypto

market

(%)Bitcoin(BTC)Ethereum(ETC)StablecoinsRipple(XRP)Solana(SOL)Cardano(ADA)Other856.7bUSD274bUSD130.2bUSD34bUSD53.3178.12.11.70.916.828.1bUSD14.9bUSD269.8bUSD16Description:TheshareofstablecoinswithintheoverallcryptomarketwasbelowthatofEthereum(ETH)andBitcoin(BTC).Thiswouldmarkasignificantriseofthedigitalasset,asearliercalculationsfromDecember2021indicatedastablecoinmarketshareofsevenpercent.Whatmayplayapartinthesefiguresisthat"regular"cryptocurrenciessuchasꢀEthereumsawasignificantdeclineinpricebetweenMayandJune2022-leadingtotheirmarketcaptodeclineaswell.Fiat-backedstablecoinslike[...]

ReadmoreNote(s):Worldwide;December6,2023,10:27CET;ThenumbersprovidedhavebeencalculatedbySource(s):CoinGeckoNotethattheoverallstablecoinmarketisestimatedatroughly75differentcoins,althoughdefinitionscanvarybetweensourcesCHAPTER

04TradingOverallcryptocurrency24hourtradevolumefromJanuary1,2021toDecember5,2023(inbillionU.S.dollars)Daily24hvolumeofallcryptocombinedupuntilDecember5,20233,5003,0002,5002,0001,5001,000500018Description:Crypto24htradingvolumedeclinedas2023progressed,withfiguresbeingone-thirdlowerthanin2022.ThedeclinefollowsafterBinanceandCoins-twoofthebiggestcryptoexchangesintheworld-receivedlawsuitsintheUnitedStates.ObservationsarealsothatthecryptomarketwasquietafterApril,citingalackofa"strongoverarchingnarrative".Thisisincontrastto2021and2022whencryptocurrencydominatedthenewsandmanypeoplesoughtfortuneinthedigitalcurrency.ReadmoreNote(s):Worldwide;January1,2021toDecember5,2023;ThesourcedidnotprovidefiguresforacoupleofdaysinApril2020andMay2021Source(s):CoinGeckoBiggestcryptocurrenciesintheworldbasedon24hvolumeonDecember5,2023(inbillionU.S.dollars)The100mosttradedcryptocurrenciesinthelast24hoursasofDecember5,2023VolumeinbillionU.S.dollars300102040506070Bitcoin(BTC)Ethereum(ETH)TetherUSDt(USDT)BinanceCoin(BNB)Ripple(XRP)63.3930.4212.816.42.721.98Solana(SOL)USDC(USDC)1.921.76Cardano(ADA)Dogecoin(DOGE)TRON(TRX)1.131.1Chainlink(LINK)Toncoin(TON)Avalanche(AVAX)1.010.990.8519Description:Bitcoin'spopularitysurgedin2020and2021,anditremainedthemosttradedcryptocurrencyononlineexchangessince.Basedon24hourtradingvolume,BitcoinoutpacedEthereumandTetherinDecember2023.Thisissomewhatsimilartoamarketcapleaguetableofmorethan100cryptocurrencies-includingonesforDeFi,Note(s):Worldwide;December5,2023,on12:34CETSource(s):CoinMarketCapandstablecoins.Thetwovirtualcoinsweretheonlyonestoreachover100billionU.S.dollars,withEthereumfollowingbyaroundonehalfthisamount.[...]

ReadmoreNumberofdailytransactionsontheblockchaininBitcoin,EthereumandothercryptocurrenciesfromJanuary2009toAugust21,2023DailytransactionhistoryofcryptowithhighestmarketcapuptoAugust21,2023Bitcoin(BTC)USDCoin(USDC)Ethereum(ETH)Cardano(ADA)Tether(USDT)Dogecoin(DOGE)BinanceCoin(BNB)Tron(TRX)Ripple(XRP)Polkadot(DOT)13,000,00011,000,0009,000,0007,000,0005,000,0003,000,0001,000,000-1,000,000-3,000,000-5,000,00020Description:AttheendofAugust2023,theEthereumcryptocurrencywouldbeprocessedmorethanonemilliontimesperdayon-chain.ThiswasabouttwicetimesthatofthemorecommonlyknownrivalBitcoin,whichsawonly550,000dailytransactionsthatmonth.Otherleadingcryptocurrenciesalsosawsignificantlylesstransactionactivity.ReadmoreNote(s):Worldwide;January2009toAugust21,2023;Absolutefigures;Thenumbersprovidedconcerntransactions,notthetradingvolumeofeachcoin;Notallcoinsaremeasured:Solana(SOL),forexample,canonlybetrackedwithinitsownblockchain.Source(s):CoinMetricsMaximumandcurrentsupplyof100cryptocurrencieswiththehighestmarketcapasofDecember5,2023(inmillions)Maximum/currentsupplyof100cryptocurrenciesworldwideasofDecember5,2023Current

supply

in

millionsMaximum

supply

in

millionsShare

ofmaxsupply

in

circulation(%)Bitcoin(BTC)19.56120.2321n/a93.2%n/aEthereum(ETH)TetherUSDt(USDT)BNB(BNB)89933.67151.70n/an/an/an/aXRP(XRP)53888.57425.47100000n/a53.9%n/aSolana(SOL)USDC(USDC)Cardano(ADA)Dogecoin(DOGE)Avalanche(AVAX)TRON(TRX)24294.0935317.84142119.55365.64n/an/a45000n/a78.5%n/a72050.8%n/a88499.77556.85n/aChainlink(LINK)100055.7%21Description:Bitcoinisedgingclosertoreachingitsfinite,maximumsupply,pushingitspriceupandmakingithardertomine.Asaruleofthumb,thefewercoinsavailabletothegeneralaudience,thehigherthevalueofthecryptocurrencybecomes.Nomoreminingispossiblewhenacryptocurrencyreachesitsmaximumsupply.Themarketpricethenreflectssupplyanddemand.Bitcoinhasasetlimitof21millioncoins,thelastofwhichistobeminedaroundtheyear2140accordingtoa2017forecast[...]

ReadmoreNote(s):Worldwide;December5,2023;Thecoinslistedherehavebeenrankedbasedofftheirmarketcap.Bitcoin(BTC),forexample,rankstopnotforitstransactionspeed,butbecauseithadthehighestmarketcapofallcryptocurrencies;FiguresareasofJune15,2022,10:46CETSource(s):CoinMarketCapCHAPTER

05AdoptionShareofrespondentswhoindicatedtheyeitherownedorusedcryptocurrenciesin56countriesandterritoriesworldwidefrom2019to2023Cryptocurrencyadoptionin56differentcountriesworldwide2019-2023201928%20%-202032%16%10%13%12%8%202142%25%13%12%12%10%21%16%12%18%13%8%202245%40%34%19%22%22%35%20%20%23%18%19%14%202347%47%31%29%28%27%26%23%23%22%21%20%19%NigeriaTurkeyUnitedArabEmiratesIndonesiaBrazil11%18%8%IndiaArgentinaMalaysia16%-14%12%11%17%9%SaudiArabiaSouthAfricaSwitzerlandSouthKoreaEgypt14%16%10%6%8%-8%12%23Description:ConsumersfromcountriesinAfrica,Asia,andSouthAmericaweremostlikelytobeanownerofcryptocurrencies,suchasBitcoin,in2023.Thisconclusioncanbereachedaftercombining55differentsurveysfromtheStatista'sConsumerInsightsoverthecourseofthatyear.NearlyoneoutofthreerespondentstoStatista'ssurveyinNigeria,forinstance,mentionedtheyeitherownedoruseadigitalcoin,asopposedtosixoutof100respondentsintheUnitedStates.Thisisasignificant[...]

ReadmoreNote(s):Worldwide;April1,2022toMarch28,2023;2,000or12,000respondentspercountry;18-64years;Residentialonlinepopulation,picked"cryptocurrency(e.g.Bitcoin)"Source(s):ConsumerInsightsNumberofBitcoinATMsin84countriesandterritoriesworldwideasofSeptember15,2023BitcoinATMsin84countriesworldwideasofSeptember15,2023NumberofBitcoinATMs15,00005,00010,00020,00025,00030,000UnitedStatesCanada26,8992,845AustraliaSpain639286Poland26821215914613813513311878ElSalvadorHongKongRomaniaSwitzerlandGermanyGeorgiaAustriaItaly24Description:ThehighestnumberofBitcoinATMswasrecordedintheUnitedStatesin2023,withsignificantmoremachinesfoundherethanelsewhereintheworld.Canada,theUnitedKingdomandAustriafollowed.TherearetwomaintypesofBitcoinATMs:thebasicones,allowingtheusersonlytopurchaseBitcoins,andmorecomplexones,enablingtheusersbothtobuyandsellthevirtualmoney.IncaseofcomplexATMs,onlythemembersofaparticularATMproducercanusetheATM.General[...]

ReadmoreNote(s):WorldwideSource(s):CoinATMRadarMarketshareofBitcoinATMproducersworldwideasofSeptember15,2023MarketshareofBitcoinATMproducersworldwide202335%31.3%30%25%20%15%10%5%22.9%21.8%8%3.2%2.3%

2.1%1.5%1.1%0.7%

0.7%

0.7%

0.5%

0.5%0.4%

0.4%

0.4%

0.2%0.1%

0.1%

0.1%

0.1%

0.1%

0.1%0%25Description:TwomanufacturersareresponsibleforthemajorityofallBitcoinATMinstallationssuppliedacrosstheworld.Thisaccordingtoacomparisonofseveralof46oftheseproducers.OnSeptember15,2023,GeneralBytesprovedtobetheleadingBitcoinATMproducer,withabout31percentoftheglobalmarketshare.Itachievedthis,sothesourceaddselsewhere,byhavingATMsonroughly10,000locationsworldwide.

ReadmoreNote(s):Worldwide;September15,2022Source(s):CoinATMRadarCHAPTER

06ExchangesLargestcryptocurrencyexchangesbasedon24htradevolumeintheworldonDecember5,2023(inbillionU.S.dollars)Top100cryptoexchangesintheworldbasedon24htradevolumeonDecember5,202324hvolumeinbillionU.S.dollars0246810121416BinanceGate.io14.147.49UEEx6.6BIKA4.28UpbitOKXSuperExBybit3.413.232.942.792.592.312.252.152.07BitrueIndoExWhiteBITCoinbaseExchangeOrangeX27Description:CryptotraderBinancerankedamongthelargestcryptocurrencyexchangersintheworldin2023,withtradingvolumethatwasseveraltimesashighasBybitorOKX.ItshouldbenotedthatthesefiguresareseparatefromplatformsBinance.US,BinanceTRorBinance.KR.TheplatformfromtheCaymanIslandsfacedinvestigationsfromtheU.S.SEC,whichcametoaheadinNovember2023.BinancedidnotrankasꢀthemostusedcryptocurrencyexchangesusedbyconsumersintheUnited[...]

ReadmoreNote(s):Worldwide;December5,2023Source(s):CoinMarketCapTop20onlineexchangesbasedon24hBitcoin(BTC)tradingvolumeonDecember5,2023BiggestBitcoin(BTC)exchangesbasedon24hvolumeonDecember5,2023Share

oftotal

24h

trading

volumeBinance(BTC/USDT)OrangeX(BTC/USDT)Bitrue(BTC/USDT)7.5%4.01%3.93%3.59%3.5%LATOKEN(BTC/USDT)WhiteBIT(BTC/USDT)OKX(BTC/USDT)2.69%2.53%2.38%2.29%2.17%2.02%1.99%1.91%CoinbaseExchange(BTC/USD)BitMart(BTC/USDT)Toobit(BTC/USDT)HotcoinGlobal(BTC/USDT)Bitunix(BTC/USDT)MEXC(BTC/USDT)Bybit(BTC/USDC)28Description:ThemostpopularBitcointradeinDecember2023involvedtheBitcoin/TetherpaironBinance,makingupnearlytwopercentoftotal24htradevolume.TradesinvolvingBitcoin(BTC)andTether(USDT)werealsofrequentonotherexchanges,suchasPhemex,Coinsbit,andCoinbase.Amongthebiggestcryptocurrencyexchangesintheworld,BitcoinwastradedrelativelyfrequentlyonBinance-havingmultipleentriesinthislist,withtheBTC/BUSDandBTC/USDpairs-whereasnotradeswere[...]

ReadmoreNote(s):Worldwide;December5,2023,at13:39CET;Cryptotradingistrackedbycurrencypair,meaningthataplatformlikeBinance-whichusetheirowncryptocurrencyfortrading-mightshowupmultipletimeswithinthisrankingSource(s):CoinGeckoTop20onlineexchangesbasedon24hEthereum(ETH)tradingvolumeonDecember5,2023BiggestEthereum(ETH)exchangesbasedon24hvolumeonDecember5,2023Shareoftotal24htradingvolume1.5%

2.0%3.84%0.0%Binance(ETH/USDT)0.5%1.0%2.5%3.0%3.5%4.0%4.5%OrangeX(ETH/USDT)Bybit(ETH/USDC)2.6%2.5%OKX(ETH/USDT)1.9%1.7%1.7%1.48%1.41%1.24%WhiteBIT(ETH/USDT)CoinW(ETH/USDT)LATOKEN(ETH/USDT)LBank(ETH/USDT)Bybit(ETH/USDT)Bitforex(ETH/USDT)Toobit(ETH/USDT)DigiFinex(ETH/USDT)1.22%1.21%1.2%29Description:ThemostpopularEthereumtradeinDecember2023involvedthepairEthereum/TetherpaironBinance,makingupnearlyfourpercentoftotal24htradevolume.TradesinvolvingEthereumandTetherwerealsofrequentonotherexchanges,suchasFMFW.io,HitBTC,andCoinsbit.Amongꢀthebiggestcryptocurrencyexchangesintheworld,EthereumwastradedrelativelyfrequentlyonBinance-havingmultipleentriesinthislist,withtheETH/BUSDandETH/BTCpairs-whereasnotrades[...]ReadmoreNote(s):Worldwide;December5,2023;Cryptotradingistrackedbycurrencypair,meaningthataplatformlikeBinance-whichusetheirowncryptocurrencyfortrading-mightshowupmultipletimeswithinthisrankingSource(s):CoinGeckoTop20onlineexchangesbasedon24hTerraLunaClassic(LUNC)tradingvolumeonDecember5,2023BiggestTerraLunaClassic(LUNC)exchangesbasedon24hvolumeonDecember5,2023Shareoftotal24htradingvolume15%

20%0%5%10%25%30%35%40%45%Binance(LUNC/USDT)Deepcoin(LUNC/USDT)Gate.io(LUNC/USDT)BtcTurk|Kripto(LUNC/TRY)KuCoin(LUNC/USDT)Binance(LUNC/BUSD)OKX(LUNC/USDT)41.17%10.61%8.65%8.32%4.67%4.61%4.55%Bitkub(LUNC/THB)BtcTurk|Kripto(LUNC/USDT)BingX(LUNC/USDT)2.65%2.05%1.88%1.28%Bybit(LUNC/USDT)CoinW(LUNC/USDT)MEXC(LUNC/USDT)1.26%1.15%30Description:ThemostpopularLUNCtradeinDecember2023involvedtheTerraLunaClassic/TetherpaironBinance,makingupover30percentoftotal24htradevolume.TradesinvolvingLUNAandTetherwerealsofrequentonotherexchanges,suchastheTurkishcryptoexchangeBtcTurk.Amongꢀthebiggestcryptocurrencyexchangesintheworld,LunawastradedrelativelyfrequentlyonBinancewhereasnotradeswereobservedforaplatformlikeMandalaExchange.

ReadmoreNote(s):Worldwide;December5,2023;Cryptotradingistrackedbycurrencypair,meaningthataplatformlikeBinance-whichusetheirowncryptocurrencyfortrading-mightshowupmultipletimeswithinthisrankingSource(s):CoinGeckoTop20onlineexchangesbasedon24hCardano(ADA)tradingvolumeonDecember5,2023BiggestCardano(ADA)exchangesbasedon24hvolumeonDecember5,2023Shareoftotal24htradingvolume0%2%4%6%8%10%12%14%Binance(ADA/USDT)WhiteBIT(ADA/USDT)MEXC(ADA/USDT)11.99%10.18%5.57%CoinbaseExchange(ADA/USD)Bybit(ADA/USDT)4.28%2.94%2.63%2.5%OKX(ADA/USDT)HitBTC(ADA/USDT)FMFW.io(ADA/USDT)BTSE(ADA/USD)2.49%2.37%2.05%2%Bitforex(ADA/USDT)Kraken(ADA/USD)DigiFinex(ADA/USDT)1.99%31Description:ThemostpopularCardanotradeinSeptember2023involvedtheCardano/TetherpaironHTX,makingupover11percentoftotal24htradevolume.TradesinvolvingCardanoandTetherwerealsofrequentonotherexchanges,suchasBinance,Lbank,andPoloniex.Amongthebiggestcryptocurrencyexchangesintheworld,Cardanowastradedrelativelyfr