BNB

Arcane Report: Binance Sole Winner in 2022 of Crypto

by BSCN

January 5, 2023

Binance is dominant across several key metrics--by large margins. It's clear who the top dog in the industry is after 2022.

‘Binance Is the Market’ Says Arcane

Binance had a spectacular year and took over a massive market share, according to a recent report from Arcane Research.

Binance led exchanges among trading activity through 2022, and “there are no other evident ‘winners’” according to “crypto market structure and market dominance,” says Arcane Researchers Bendik Schei and Vetle Lunde in their January 3 report.

The notable statistic is that Binance holds over 92% of the spot trading volume while also holding as high as 66% of volume for metrics like Crypto Perps and BTC Futures/Perps.

The Arcane report also lists three metrics where Binance performed well in 2022:

Grew stablecoin market share
BNB token considerably outperformed BTC and ETH
Doubled its employee count while many competitors had layoffs or bankruptcies

Binance’s year stands alone among global centralized exchanges. CEO Changpeng Zhao and team have built the most robust and powerful crypto company, a true behemoth in the whole industry if you consider BNB Chain’s relative performance as the most active blockchain.

“No matter how you look at it in terms of trading activity, Binance is the crypto market,” writes the report.

Read the full report here.

What is Binance:

Binance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.