Binance continued its domination at the top of the crypto exchange list in the month of July. It registered a trading volume of $38.36 billion in July, closely followed by OKEx with $34.71 billion. No other exchange was able to break through the $30 billion volume barrier last month. Singapore-based Huobi exchange continues to trail behind Binance and OKEx in third place with a trading volume of $22.17 billion.
These 3 exchanges comfortably led the pack with Bitfinex in fourth place with a monthly volume of $13.72 billion. In July, a young Hong-Kong-based Chinese exchange by the name of ZB.COM joined the Top 5 with a registered volume of $11.41 billion.
The ongoing rivalry between Binance and OKEx became very close at the end of last month, with OKEx overtaking Binance for the last two days of trading in July. Huobi was also able to use the final days of the month to its advantage. It significantly narrowed the gap to its two leading competitors. It will be interesting to see how this drama continues in the month of August.
Notably, Huobi exchange confirmed the opening of its office in London. They also stated that Lester Li and Josh Goodbody would lead Huobi’s operations in the City. It follows meaningful growth in the United Kingdom and Europe. The crypto exchange reported previously that the trading volume from the UK already ranks fifth in the world, making the country its largest market in Europe.
ZB.COM is certainly a an exchange to keep on your radar. Even though the exchange only opened in 2017, it has been able to surpass many of its older competitors. ZB.com recently announced a partnership with QUOINE and BW.com to increase liquidity throughout their platforms.