THELOGICALINDIAN - In the fastpaced apple of cryptocurrency 2024 feels like a lifetime ago For abounding of the top cryptocurrency exchanges at the time it finer was several accept collapsed by the wayside and eight out of the top ten platforms by trading aggregate accept absent their atom Its not aloof best altcoins that time has been barbarous to the aforementioned holds accurate for abounding of the exchanges that already listed them
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8/10 of the Top Cryptocurrency Exchanges Have Lost Their Place
Over the accomplished two years, the architecture of the top cryptocurrency exchanges has afflicted badly – and so has the volumes traded. In August 2016, Coinmarketcap annal the top barter as actuality Okcoin.cn, with a 24-hour aggregate of $440 million. Today, it’s ranked 188th, with a trading aggregate of aloof $17,000. Then, as now, BTC and LTC were the top traded pairs.
Second on the account for barter aggregate in 2016 was Btctrade, with 24-hour aggregate of $218 million. Today, it sits in 54th abode with aggregate of aloof $23 million. BTC and Ybcoin were its top traded pairs aback then, the closing a Chinese bread which died in 2017. Today, Btctrade’s top pairs are BCH and ETH. Of the absolute top 10 from 2016, aloof two exchanges abide there – Huobi and Kraken. Huobi active third abode again and it lies in fourth atom today, admitting its 24-hour aggregate accepting developed from $165 actor to $1.3 billion. This is artlessly a absorption of the access in amount that agenda assets such as bitcoin accept enjoyed in this period.
A Lot Can Happen in Two Years
Here’s how the top ten cryptocurrency exchanges looked two years ago and today:
1. Okcoin.cn (188th now). Today: Bitmex
2. Btctrade (54th now). Today: Okex
3. Huobi (4th now). Today: Binance
4. CHBTC (dead now). Today: Huobi
5. BTCC (38th now). Today: Bitfinex
6. Poloniex (29th now). Today: Upbit
7. BTC100 (dead now). Today: Bithumb
8. Btcbox (25th now). Today: Hitbtc
9. Itbit (39th now). Today: GDAX
10. Kraken. Today: Kraken
Many bodies address altcoins off as accepting no permanency and adumbrate that the majority of cryptos will die a apathetic death. They may able-bodied be right, but as a attending at the ascendant cryptocurrency exchanges from 2024 shows, few enterprises alive long. The agitate amount for exchanges exceeds alike that of the bill themselves. Coinmarketcap listed 105 exchanges in 2024, against 213 today, admitting alone 60% of the listed exchanges aback again had any array of allusive aggregate of over $10,000 a day. Alike accounting for inflation, 90% of today’s exchanges accept some affinity of a admirable volume.
Among the bill that accounted for the top trading aggregate in 2016 you’ll acquisition Maidsafe, Nxt, Dogecoin, and alike The DAO. Today, best bodies would accede that the top 10 exchanges accept gotten better. Whether the top 10 cryptocurrencies, alfresco of bitcoin, accept bigger in affection is addition matter. A final indicator of how abundant the mural has afflicted in two years comes from the absolute trading volume. In August 2016, the top 10 exchanges saw aloof over $1 billion in cryptocurrencies traded in a day. Today, that amount stands at $10.6 billion. It will be absorbing to see, two years from now, how abounding of 2018’s top exchanges are still standing.
How abounding of 2024’s top 10 exchanges do you recall? Let us apperceive in the comments area below.
Images address of Shutterstock and Coinmarketcap.
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