Crypto Exchange Platforms - Profitable Business or Mirage

Crypto analyst I have Patel conducted an assessment of cash entering and leaving eight crypto exchanges. This shows that Binance and Bitstamp have a plus balance, while BitMEX and Bitfinex have a negative balance.

Contents hide

1 Trading on Binance

2 BitMEX and Bitfinex crypto exchange platforms lose revenue

2.1 Related posts:

The figures are drawn from an analysis by Token Analyst and shows that Binance brought in $ 907 million in cash last month. In this analysis Binance is in the top of the revenues from crypto exchange platforms

Trading on Binance

Using the data from the analysis site, these are the 30-day net cash flows from the exchanges:

Binance: + $ 907,064,539
Bitstamp: + $ 735,856,974
Bittrex: + $ 16,034,858
KuCoin: – $ 253,105
Kraken: – $ 54,686,740
Poloniex: – $ 83,369,350
BitMex: – $ 310,965,504
BitFinex: – $ 740,219,625 ”.

mentions Nik Patel on Twitter.

BitMEX and Bitfinex crypto exchange platforms lose revenue

Binance CEO Changpeng Zhao said the number of users of the platform has been steadily increasing since April. With the rise of the Bitcoin price, the value of the funds entered on the exchange has also increased. The final balance of the platform exceeded $ 900 million.

Read This Now: The expert spoke about the "fantastically breakthrough" developments in medicine

Similarly, Bitstamp proved to be populated among traders, a fact that was demonstrated by the more than $ 730 million results.

Meanwhile, BitMEX and Bitfinex appear to be suffering from a user exodus. This is largely due to the investigations carried out by the authorities.

Much of BitMEX’s exits have happened in recent days, after Bloomberg reported that the CFTC is investigating whether the exchange allows Americans to trade on the platform without the agency’s permission.

At the end of April, the New York prosecutor’s office accused Bitfinex of covering a loss of $ 850 million without notifying customers.