The monthly cryptocurrency market data for the month of November has been released. The newly released data showcased that Binance has been overtaken by a South Korea based exchange, Bithumb. Cryptocompare, the cryptocurrency market data aggregator reports.
As is the tradition of cryptocompare, it is normal for them to release a monthly exchange review which offers insight about the latest happenings in the crypto market. According to the review published by cryptocompare, the Korean Won dominated the BTC/fiat spot in this past month. Their latest findings discovered that Bithumb exchange has surpassed Binance in terms of daily trade volume as it records a total of $1.24 Billion in the month of November, Binance coming second with a total of $641 million and AN taking the third position with $560 million.
Automatically, the Korean exchange saw a 284% rise in the trade volume when compared to the previous two-months. While penning down their reviews, cryptocompare also discovered that there was never a time this exchange attracted so many visitors capable of catapaulting them to top on the list, if not for the “Super Airdrop Festival” and “Special Gift” promotional events they conducted last month.
However, cryptocompare’s CEO, Charles Hayter did not forget to leave us with a heart-softening comment, illustrating their good plans for the crypto industry.
We have seen great interest in our monthly reports and are constantly adding new features to our regular analysis, Real-time, accurate cryptocurrency market data remains crucial to our universe of retail and institutional investors, as we see more assets migrating to the digital format due to its immediacy and friction-less global nature. Our report is designed to safeguard data accuracy and integrity, to ensure consistency and confidence in the market.