The largest American cryptocurrency exchange Coinbase has faced stiff competition from Asian sites Binance and OKEx.
According to the publication Diar cryptocurrency, Coinbase volumes declined sharply since the beginning of 2018, while the volume of Binance and OKEx to stay stable and sometimes even growing.
From January to July the trading volume in USD on Coinbase dropped 83%, to other major American platform Bitstamp volume also declined by 73 percent.
At the same time, the volume Binance increased by 21 percent in July compared to June, and OKEx registered a new record last month.
More than 50% of the volume on the cryptocurrency markets account for the major altcoins: Bitcoin, Ethereum, XRP, Bitcoin and Litecoin Cash.
However, the market decline’s impact on major U.S. exchanges. The volume on Coinbase, Bitstamp and Kraken dropped sharply.
Despite the fact that for 2018 stable altcoins fell in price, Binance, which offers many altcoins, apparently, managed to use this to their advantage.
Coinbase, however, does not give up. Recently the unforgotten Playground Paradex salistie token BNB, as well as the token Chinese exchange Huobi – HT.
Also, all three companies: Binance, OKEx, and Coinbase is pursuing an aggressive policy of international expansion.