![Binance takes over 98% of all Bitcoin spot trading volume](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2023/02/binance-bitcoin-spot.jpg&w=70&h=37&q=75)
Binance takes over 98% of all Bitcoin spot trading volume
Spot trading of Bitcoin on Binance has grown 5% since Jan. 2023, adding to the centralized exchange's dominance.
![Binance takes over 98% of all Bitcoin spot trading volume](https://cryptoslate.com/wp-content/uploads/2023/02/binance-bitcoin-spot-768x403.jpg)
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Binance is responsible for almost all Bitcoin (BTC) spot trading — with over 98% of transactions passing through the centralized exchange between Feb. 18-19.
Binance’s $6.8 billion dollar volume dominates others in the market — a trend that has only grown since the collapse of FTX, according to data from Coinalyze.
![BTC/SPOT by exchange (Source: Coinanalyze)](https://cryptoslate.com/wp-content/uploads/2023/02/Screenshot-2023-02-20-at-8.45.30-AM.png)
Binance has been gathering more market share by increasing its spot trading of BTC — over 5% growth since Jan. 2023. Additionally, Binance’s market share for spot volume has been continuously growing over the past year — which now amounts to almost 100% of the market share.
![Bitcoin % share in spot trading volume](https://cryptoslate.com/wp-content/uploads/2023/02/Screenshot-2023-02-20-at-8.46.06-AM.png)
Binance’s success in dominating the BTC trading market can be attributed to its no-trading-fee policy. However, this also makes the exchange vulnerable to bots that can take advantage of the system. In contrast, exchanges like Coinbase charge fees of around $5-7 for transactions, making it less susceptible to bots.
In terms of daily trading volume, Binance remains the clear leader in the entire spot trading market, pushing over $21 billion, according to CoinMarketCap. Coinbase is the only other exchange with over $1 billion in daily exchange, with a trading volume of $1.4 billion.