Staying on top position of the unceasing volatile crypto market is like a crowning the king of cryptocurrency exchange by trade volume. That crown has been worn by Binance for some time now, however, there comes a shift in a position today on December 11, 2018, as OKEx and ZB.Com bagged first and second position relatively. At present Binance is no longer owns the crown.
OKEx and ZB.com Pushed Binance to Third Place
According to coinmarketcap, OKEX overtakes Binance and stand with a total market cap of $469,552,174. ZB.com which was on the top fifth position as on December 09, 2018 is now shifted to the second spot with volume $467,652,466. Eventually, Binance collapsed down to the third position with total volume $420,097,524 and lost its better portion. However, the shift is followed by Huobi, DigiFinex, CoinBene, Bit-Z, IDAX, HitBTC and DOBI trade.
Though the market is still in a red zone, the volume of ZB.com is quite positive than that of OKEx and Binance.
While OKEx surpasses Binance, it’s not wrong to expect ZB.com jumps up to OKEx since they both are battling with a little difference – the former stand with volume $469,552,174 whereas latter maintained its trading volume with $467,652,466.
Bitcoin is Still the Leading Cryptocurrency
Though major cryptocurrencies are shaky, Bitcoin holds a strong position to be a leader in crypto space. At press time, bitcoin was trading at $3439.30 tumbled again with other major cryptocurrencies including Ripple, Ethereum, Stellar, Tether, Bitcoin Cash, EOS, Bitcoin SV, Litecoin and TRON.
Such instabilities are common in the crypto market but it doesn’t stop any platform to still fight for the position. Reports recently revealed that Binance Exchange is launching its own blockchain. It is migrating its native token (Binance BNB) from Etehreum blockchain to its new platform called “Binance Chain’. Binance’s own blockchain will enable entrepreneurs and developers to issue their own tokens.
#Binance is pushing for blockchain adoption and doing many things to help advancement of the industry. E.g. we will have the Binance chain ready in the coming months, on which millions of projects can easily issue tokens. @cz_binance @ForbesAsia #ForbesBlockchain pic.twitter.com/0pc0r1lXd2
— Binance (@binance) December 4, 2018
What do you think about this fluctuations of the decentralized market? Will Binance exchange get better in near future?
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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com