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Top 3 Exchanges Trade 80% of 21.7 Billion Yuan for Bitcoin in May

5th June, Beijing- China CERT released a Bitcoin Trading Report of May 2017, revealing the top 3 exchanges are still OKCoin, Btcchina and Huobi. However, the report failed to track trade volume of other cryptocurrencies, which has taken over half of the total market share.

China CERT, the National Computer Network Emergency Response Technical Team/Coordination Center of China (known as CNCERT or CNCERT/CC) , was founded in September 2002. It is a non-governmental non-profit cybersecurity technical center and the key coordination team for China’s cybersecurity emergency response community.

It is reported that Bitcoin is taking a leading position among hundreds of cryptocurrencies for a long time, which is reflected in its 90% share of total market value. However, the market value of other currencies in recent months has increased significantly, especially Ethereum (the market value rises from $ 7.31 billion to $ 21.32 billion, or 191.6%), Ripple (the market value rises from $ 1.96 billion to $ 9.28 billion, Or 373.5%) and other altcoins. The rally of these cryptocurrencies dwarfed the market proportion of Bitcoin rapidly. The Report said the monitoring indicates that Bitcoin market share dropped to 45.62%. from 59.1% at the beginning of May.
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Fig 1: Bitcoin market value and share

The total trading volume of Bitcoin across the Chinese exchanges is 21.7 billion Yuan in May, which is 4 times of that in April.

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Fig 2: Bitcoin Trade Volume in China (Feb 2017-May 2017)

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Fig 3: Bitcoin Price and Trade Volume(May 2017)

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Fig 4: Trade Volume of China Cryptocurrency Exchange

11 exchanges are specified on the figure above. They are OKCoin(31.3%), BTCChina(27.2%), Huobi(25.1%), Lhang, Btctrade, Bitbays, Btc38, Chbtc, Yunbi, Kytb, Yuanbao and others. The list includes almost all exchanges in China with noticeable liquidity except kytb, which is said to be a MLM scheme platform. The “Big Three” exchanges may have taken 80% of bitcoin trading market, but altcoin exchanges like Btc38 is living pretty well in the bull run of other cryptocurrencies.

A similar report was released in April this year by CERT, back then the top 4 exchanges were: OKCoin (22.92%), BTCChina (20.90%), Bichuang(17.76%) and Huobi (17.20%). Keep in mind that transaction fee was still zero then.

China CERT released a report on blockchain software security last December, saying that Ripple has most vulnerabilities. It doesn’t stop Ripple from gaining a larger market share this year.

COMMENTS(2)

  • hl5460
    4 months ago hl5460

    5th June, Beijing- China CERT released a Bitcoin Trading Report of May 2017, revealing the top 3 exchanges are still OKCoin, Btcchina and Huobi. However, the report failed to track trade volume of other cryptocurrencies, which has taken over half of the total market share.China CERT, the National Computer Network Emergency Response Technical Team/Coordination Center of China (known as CNCERT or CNCERT/CC) , was founded in September 2002. It is a non-governmental non-profit cybersecurity technical center and the key coordination team for China’s cybersecurity emergency response community.http://news.8btc.com/top-3-exchanges-trade-80-of-21-7-billion-yuan-for-bitcoin-in-may

  • BitcoinAllBot
    4 months ago BitcoinAllBot

    Here is the link to the original comment thread. Or you can comment here to start a discussion. Author: 8btccom

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