Day: 13 May 2023

CEX Volumes Drop, Bitcoin Holdings Touch 5-year Low

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Centralized exchanges lose the spotlight as new data shows declines in trading volumes on popular crypto platforms. Data provided by the crypto analysis firm Sentiment shows that Bitcoin held on exchanges has dropped to 5.84%, the lowest level since December 2017. Spot and futures trading were reportedly in decline over the last few months as well. Question of Faith Specifically, futures trading on Binance, OKX, and Bybit have fallen by 24.1%, 21.7%, and 17.8%, respectively. Crypto.com, the long-established crypto platform, suffered a significant loss, with a 52.8% drop in futures…

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Binance to Withdraw From Canadian Market Due to Regulatory Climate

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Binance, the world’s largest cryptocurrency exchange by trading volume, announced on Friday that it is “proactively withdrawing from the Canadian market.” The company thanked the regulators who worked with them and said that the Canadian market was “small.” Binance Bows Out of Canada Due to Regulatory Guidance The cryptocurrency exchange Binance has decided to withdraw from the Canadian market. The company noted that it was the home country of its founder and cited regulatory guidance as the reason for its decision. Binance claims that the new regulatory climate in Canada…

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