CryptoMediaClub
Wednesday, October 29, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

The Post-FTX Effect: Bybit, Kraken, and Bitget With Growing Trading Volumes (Nansen)

19.06.2023
A A
0
131
VIEWS
ShareShare

One of the most calamitous events in the crypto world last year – the demise of FTX – negatively impacted the entire industry. It undermined the trust in centralized exchanges, causing numerous investors to back off them and shift towards self-custody or to sell their stash.

The collapse also prompted some platforms to take additional measures and up their game on the security field. According to data provided by the blockchain analytics firm – Nansen – exchanges like Bybit, Kraken, and Bitget have overcome the FTX shock and boosted their trading volumes during the first half of 2023.

The Winners From the FTX Meltdown

In-depth Nansen analysis estimated that the FTX crash in November 2022 changed the CEX landscape, with many exchanges experiencing record outflows and diminished interest from investors towards the end of 2022 and the start of 2023.

Some of the biggest losers seem to be Bitfinex, Kucoin, Gate.io, and OKX. The average monthly spot trading volume of Bitfinex six months before the fallout was over $12 billion, compared to $5 billion half a year later.

On the other hand, Kraken boosted its spot trading volume by approximately 14%, whereas Bybit recorded a 7% increase.

ADVERTISEMENT

“Most exchanges took a hit on their spot trading volumes, with Bybit and Kraken notable exceptions, who managed to increase their volume,” the report reads.

Although Binance was initially rumored to have a hand in the FTX implosion, the world’s largest cryptocurrency platform remained relatively unfazed. Its average monthly spot trading volume shifted from nearly $445 billion to approximately $444 billion.

Derivatives trading volume in the sector has gone through a minor decline, with a significant spike observed in November last year (by the time of the collapse).

CEX Spot Trading Volume, Source: Nansen

The only winner here seems to be Bitget, whose average numbers in that field six months before the catastrophe were $194 billion, compared to $204 billion in the aftermath. Bitfinex and Kucoin were once again on the losing side, marking reduced levels of respectively 40% and 41%.

Upgrading Security Policies

While sending shock waves through the entire crypto industry, the demise of FTX caused some exchanges to advance their investor protection programs.

Binance increased its Secure Asset Fund for Users (SAFU) to $1 billion, asserting the assets will be only used in case of an adverse event. Bitget raised its protection fund from $200 million to $300 million. Coinbase, Huobi, and OKX were among the others to take similar measures.

Multiple marketplaces have also released proof-of-reserves to show they have sufficient funds to back customer deposits, including Binance, Crypto.com, Kraken, Bybit, and OKX.

According to Nansen, such moves are vital and should become “the minimum standard in the exchange industry.”

SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Share10Tweet6ShareSharePin2

Related Posts

France Stuns Europe: Lawmakers Adopt Bitcoin and Ban Digital Euro
All news

France Stuns Europe: Lawmakers Adopt Bitcoin and Ban Digital Euro

29.10.2025
0

France has taken a bold step that could reshape Europe’s monetary direction. Lawmakers in the National Assembly have adopted a...

Read moreDetails
Alibaba’s Qwen AI With Explosive 3-Month XRP Price Prediction – Could XRP Hit $4.20 By January 2026?

Alibaba’s Qwen AI With Explosive 3-Month XRP Price Prediction – Could XRP Hit $4.20 By January 2026?

28.10.2025
UK Opens Arms to Crypto as KR1 Targets London Stock Exchange Listing

UK Opens Arms to Crypto as KR1 Targets London Stock Exchange Listing

28.10.2025
SharpLink to Deploy $200M in ETH on Consensys’ Linea — Is This the Future of Institutional DeFi and AI-Powered Yields?

SharpLink to Deploy $200M in ETH on Consensys’ Linea — Is This the Future of Institutional DeFi and AI-Powered Yields?

28.10.2025
Crypto PACs Build $263M War Chest Ahead of 2026 US Midterm Elections

Crypto PACs Build $263M War Chest Ahead of 2026 US Midterm Elections

28.10.2025
Load More
Next Post
New Bull Run Detected: This Altcoin Spiked 51% In a Week  

New Bull Run Detected: This Altcoin Spiked 51% In a Week  

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Daehong Communications Partners with Chainlink Labs for NFT Projects

Daehong Communications Partners with Chainlink Labs for NFT Projects

2 years ago
Bitcoin Miners in U.S. Spend $18.65 Million on Electricity Daily

Bitcoin Miners in U.S. Spend $18.65 Million on Electricity Daily

1 year ago
Bitcoin May Be at Deep Worth Ranges or Begin of a Bear Market: CryptoQuant

Bitcoin May Be at Deep Worth Ranges or Begin of a Bear Market: CryptoQuant

8 months ago
Supreme Court Allows Class-Action Lawsuit Against Nvidia Over Crypto Mining Claims

Supreme Court Allows Class-Action Lawsuit Against Nvidia Over Crypto Mining Claims

11 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

UK Opens Arms to Crypto as KR1 Targets London Stock Exchange Listing

Strategy’s new credit rating will open Bitcoin to $130 trillion institutional capital

SharpLink to Deploy $200M in ETH on Consensys’ Linea — Is This the Future of Institutional DeFi and AI-Powered Yields?

Does a weaker dollar drive Bitcoin price now?

Crypto PACs Build $263M War Chest Ahead of 2026 US Midterm Elections

Why is Bitcoin price pumping? Catch up on what’s moving crypto

Trending

France Stuns Europe: Lawmakers Adopt Bitcoin and Ban Digital Euro
All news

France Stuns Europe: Lawmakers Adopt Bitcoin and Ban Digital Euro

29.10.2025
0

France has taken a bold step that could reshape Europe’s monetary direction. Lawmakers in the National Assembly...

Alibaba’s Qwen AI With Explosive 3-Month XRP Price Prediction – Could XRP Hit $4.20 By January 2026?

Alibaba’s Qwen AI With Explosive 3-Month XRP Price Prediction – Could XRP Hit $4.20 By January 2026?

28.10.2025
Watch these 4 tripwires to signal XRP price direction this week

Watch these 4 tripwires to signal XRP price direction this week

28.10.2025
UK Opens Arms to Crypto as KR1 Targets London Stock Exchange Listing

UK Opens Arms to Crypto as KR1 Targets London Stock Exchange Listing

28.10.2025
Strategy’s new credit rating will open Bitcoin to $130 trillion institutional capital

Strategy’s new credit rating will open Bitcoin to $130 trillion institutional capital

28.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz