Satoshi

2024

when

The cryptocurrency exchange, Crypto.com has established itself as North America’s dominant trading platform.
The exchanges have outpaced longtime leader Coinbase in recent months, according to data from <a href="https://www.theblock.co/data/crypto-markets/spot" rel="noopener noreferrer nofollow" target="_blank">The Block</a>.
<h3 id="span-style-font-weight-400-crypto-com-s-monthly-trading-volume-surges-span">Crypto.com’s monthly trading volume surges</h3>
Crypto.com saw an extraordinary increase in its monthly spot trading volume. Trading activity on the exchange increased from $34 billion in July to $134 billion in September. With this surge, it claimed a major portion of North America’s total exchange volume of $183 billion in September.
Coinbase handled only $46 billion during the same period.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 .<a href="https://twitter.com/cryptocom?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">@cryptocom</a> is leading North American crypto trading, with $112B in volume this month, beating Coinbase’s $46B.
 In September, CryptoCom reached $134B in trading, up from $34B in July. <a href="https://twitter.com/search?q=%24CRO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$CRO</a> <a href="https://t.co/TBknOgB74P" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/TBknOgB74P</a>
 — Satoshi Club (@esatoshiclub) <a href="https://twitter.com/esatoshiclub/status/1851202567537078462?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">October 29, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The momentum has continued into October, with Crypto.com maintaining its leading position. Current month data shows the exchange processing $112 billion of the region’s $173 billion total trading volume.
This dominance is particularly striking when compared to Kraken, the exchange in third place. Kraken has seen just under $10 billion in trading activity.
<h3 id="span-style-font-weight-400-extensive-token-offering-proves-beneficial-span">Extensive token offering proves beneficial&nbsp;</h3>
A key factor driving Crypto.com’s success appears to be its extensive token offerings. The platform lists over 378 different cryptocurrencies. In addition to Bitcoin, it also carries prominent altcoins and memecoins. This diverse selection contrasts sharply with Coinbase and Kraken’s more conservative approaches. Both of these platforms list fewer than 290 tokens.
Trading patterns on Crypto.com reveal a strong preference for mainstream cryptocurrencies.
Crypto.com ranks 13th ranking as per <a href="https://coinmarketcap.com/rankings/exchanges/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap data</a> in terms of global statistics such as traffic, liquidity, and trading volumes.
The exchange has seen $5.88 billion in trading volume over the last 24 hours. It ranks second on this metric, following only Binance at $18.2 billion.
This market dominance comes amid major regulatory challenges. Crypto.com recently filed a lawsuit against the U.S. Securities and Exchange Commission following the receipt of a Wells notice.
The exchange called the legal action an effort to “protect the future of the crypto industry in the U.S.” The lawsuit is the latest episode in the complex regulatory environment facing cryptocurrency exchanges in North America.

Crypto.com emerges as North America’s leading exchange, beating Coinbase

Table of Contents

Cryptopolitan_News

Other articles published on Oct 29, 2024

Hong Kong’s ZA Bank Tests Retail Virtual Asset Trading Service, Plans Full App Rollout

BitMEX Founder Arthur Hayes Explains the Impact of China's Increased Money Supply on Bitcoin!

Foresight Ventures Announces Strategic Partnership with Deep Blue and Arta TechFin to Enhance Sta...

Bitlayer to Integrate Chainlink’s CCIP

Couldn’t Catch Ripple? Qubetics Could Deliver the Big Gains You’ve Been Waiting For

Bitcoin’s Surge Wipes Out $240 Million from Crypto Market!

Join our free newsletter for daily crypto updates!