Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»Coinbase and Bybit are the main winners after Binance payments: Kaiko
ADOPTION NEWS

Coinbase and Bybit are the main winners after Binance payments: Kaiko

By Crypto FlexsDecember 1, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Coinbase and Bybit are the main winners after Binance payments: Kaiko
Share
Facebook Twitter LinkedIn Pinterest Email

Crypto exchange competitors Coinbase and Bybit have emerged as major beneficiaries after Binance reached a $4 billion settlement with U.S. authorities last week.

According to Kaiko research analyst Riyad Carey, despite recording more than $1 billion in outflows following the settlement, Binance showed no signs of a sharp decline in liquidity, with the exchange’s market depth increasing following the settlement.

U.S. authorities, including the Justice Department, Treasury Department, and Commodity Futures Trading Commission, reached a settlement with Binance last week, concluding a criminal investigation into alleged money laundering and sanctions violations and marking one of the largest corporate settlements in U.S. history. The settlement included a $4.3 billion fine and criminal charges against former CEO Changpeng Zhao, who resigned as part of the plea deal.

Coinbase and Bybit are the main winners.

Coinbase has been one of the beneficiaries, at least in terms of stock price. Coinbase’s stock was already performing well in November and was ignited by Binance payments, Carey said. COIN surged more than 75% in one month.

COIN is currently trading at $130.36, up more than 250% year-to-date and reaching its highest level in 18 months, according to TradingView.

COIN/USD price chart. Image: TradingView.

Bybit, which uses a proxy for Bitcoin as the non-stable coin with the highest trading volume, was an “immediately noticeable winner” in terms of post-settlement market share, Carey added. transaction. Given Binance’s extreme dominance, a market share drop of up to 4% during a given period of time resulted in gains of up to 50% for Bybit and up to 34% for Coinbase.

In particular, Coinbase’s share rose the most after settlement outside of US trading hours, while OKX rose more during the opening day of trading in Western Europe. Other U.S. exchanges performed poorly overall, Carey added.

The overall impact means Binance has ceded some market share to Coinbase and Bybit overall during non-U.S. hours, Carey said.

Percentage change in BTC market share. Image: Kaiko.

He added that despite losing market share, Binance maintained its position in terms of liquidity across the cryptocurrency market. However, while Bybit is closing the gap, Coinbase is still slightly behind in terms of spread competitiveness.

looking ahead

The immediate impact of Binance’s settlement helped Coinbase and Bybit, but early trends did not appear to be severe for Binance either, Carey said.

Despite theories that Binance may continue to lose market share to competitors, Carey argued that strengthened compliance and AML/KYC measures could improve trust in the exchange. User loyalty to a familiar platform despite the presence of other exchanges indicates the elasticity of customer preferences and the stability of liquidity and trading volume.

Earlier this week, Coinbase told some of its customers that it had received subpoenas from U.S. regulators related to Bybit, which introduced another interesting dynamic to the competition among cryptocurrency exchange competitors, Carey said.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin Treasury Firm Strive adds an industry veterans and starts a new $ 950 million capital initiative.

September 16, 2025

The best Solana depin project to form the future -Part 2

September 8, 2025

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025
Add A Comment

Comments are closed.

Recent Posts

Zircuit Launches $495K Grants Program To Accelerate Web3 Super Apps

September 16, 2025

Kintsu Launches SHYPE On Hyperliquid

September 16, 2025

New Cryptocurrency Mutuum Finance (MUTM) Raises $15.8M As Phase 6 Reaches 40%

September 16, 2025

How XRP Enthusiasts Can Earn $15k/Day

September 16, 2025

Bringing 1R0R To R0AR Chain Unlocks New Incentives

September 16, 2025

As the Air drop recipient is sold, the infinite price is 46% conflict after Binance listing.

September 16, 2025

Vulnerability or orbit again? BTC has a line at $ 115K

September 16, 2025

Bitcoin Treasury Firm Strive adds an industry veterans and starts a new $ 950 million capital initiative.

September 16, 2025

France can break the EU password market with ‘atomic weapons’.

September 15, 2025

Cardano (ADA) Signal Recovery -Is there a strong rise?

September 15, 2025

BitMine Immersion (BMNR) Announces Crypto And Cash Holdings Of $10.8 Billion, ETH Holdings Exceeding 2.151 Million

September 15, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Zircuit Launches $495K Grants Program To Accelerate Web3 Super Apps

September 16, 2025

Kintsu Launches SHYPE On Hyperliquid

September 16, 2025

New Cryptocurrency Mutuum Finance (MUTM) Raises $15.8M As Phase 6 Reaches 40%

September 16, 2025
Most Popular

NVIDIA launches a new AI tool for the development of 6G wireless networks.

March 21, 2025

Arthur Hayes says this altcoin is his top pick ahead of the US election and predicts the cryptocurrency asset will perform better.

November 3, 2024

Nigeria increases capital requirements for currency dealers nearly 60-fold to $1.4 million

May 25, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.