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Crypto.com Overtakes Coinbase in Trading Volume With Institutional Growth
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Crypto.com has surpassed Coinbase in daily trading volume, reaching $3.16 billion on August 1.
According to a social media post by Crypto.com, the exchange led in USD-supported spot trading volume in July. Open interest on its derivatives market is nearing $1 billion, marking a fourfold increase since January this year.
The post indicated that the exchange led the competition with 38.5% of the market share, followed by Coinbase, Kraken, Bitstamp, and other industry players.
In addition, the reported volume of exchanges ranked by the crypto market intelligence provider Messari showed that Crypto.com had a 25.33% increase in trading volume for the past 24 hours.
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