Binance Overshadows All Other Spot Crypto Exchanges Ranked By Monthly Adjusted V...

Cryptocurrency exchanges and trading platforms are essential cogs in the industrial machine. They represent tremendous trading volumes, even if the reported and adjusted volumes differ slightly. The following platforms rank in the top five for their adjusted volume, confirming crypto momentum is picking up again. 

Binance ($455 billion)

No one will question Binance is the biggest cryptocurrency exchange in the world. It offers over 1,140 trading pairs, ensuring users can find whatever currency they want. Moreover, the platform provides various services to help users explore revenue opportunities. Trading volume-wise, the adjusted volume for Binance this month is over $455 billion. A stellar amount, and one that blows all other contenders out of the water. 

OKX ($62 billion)

The dominance of Binance becomes more apparent when looking at OKX in second place. Although an adjusted volume of $62 billion is spectacular, it is less than 15% of what the leading exchange generates. Bridging this gap will be virtually impossible for OKX, and the next exchanges may overtake it in these rankings. Competition remains fierce among crypto trading platforms, even in 2022. 

FTX Spot ($56.5 billion)

Most people know the FTX name already, regardless of whether they own cryptocurrency. The company has been on an aggressive marketing campaign and sponsors the MLB, among other franchises. The spot trading arm of FTX has surpassed $56.5 billion in adjusted volume this month, putting it within striking distance of OKX. However, FTX has to look behind to Coinbase Pro, which is closing in on both those platforms. 

Coinbase Pro ($54.7 Billion)

It is interesting to see the growing popularity of Coinbase Pro, even if it will likely never compete with Binance. Even so, it can still be the second-biggest trading platform on a good month, which is fairly interesting. Like the other platforms above, its adjusted volume is virtually identical to the reported volume. That will change with the next platform, as it has some severe discrepancies. 

Upbit ($37.9 billion)

Statistics for the Upbit exchange are a tad strange and unusual. The adjusted volume of $37.9 billion is perfectly normal and puts it ahead of Huobi Global, KuCoin, and Uniswap V3. However, Upbit has a self-reported volume of $72.26 billion. That is nearly double the adjusted volume, indicating something doesn’t add up over there. Whether that is due to wash trading or another reason, is difficult to determine. 

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