The World Largest Cryptocurrency Exchange by volume, Binance, announced yesterday its strategic investment in the crypto derivatives exchange FTX.

According to an official blog post by Binance. It has invested an undisclosed amount in the fast-rising crypto derivative platform FTX, Binance has taken a long-term position in the FTX Token, while the derivatives exchange returns the favor by helping to build out the liquidity and institutional product offerings.

Binance’s CEO, CZ said that he believes this partnership will help both companies and that FTX is on its way to becoming a larger player in the cryptocurrency derivatives market:

The FTX team has built an innovative crypto trading platform with stunning growth. With their backgrounds as professional traders, we see quite a bit ourselves in the FTX team and believe in their potential in becoming a major player in the crypto derivatives markets. We are pleased to have an excellent partner joining the Binance ecosystem and aim to grow the crypto market together. – Said CZ.

 FTX Founded in 2019, By Sam Bankman-Fried, FTX is the brainchild of Alameda Research, a digital asset research firm. Situated in the Caribbean islands of Antigua and Barbuda, FTX provides four different types of trading. futures ,OTC, spot trading, indexes and . According to reports, the exchange has a daily trade volume of about $1.5 billion.

The firm will help in creating products, especially for Binance.com, also developing Binance over-the-counter (OTC) trading desk.

As a result of this partnership, FTX is sure to enjoy a boost in growth and also widespread adoption. Though Binance only made a minor investment on FTX, it, however, has a long term hold on its native token FTT.

CZ also praised the unique talent and professionalism of the FTX expert team of traders. The exchange is more than confident that it is on the right path.

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The Data Comes From CryptoCompare November Exchange Review, Top-tier cryptocurrency exchanges are those with ratings ranging from “AA” to “B,” according to CryptoCompare’s Exchange Benchmark, while lower rating cryptocurrency exchanges are those with ratings ranging from “C” to “F.”

The volume drop for top-tier exchanges means their aggregate volume currently represents 31.4% of the total market, meaning its still close to one-third of global trading volumes. The top cryptocurrency exchange with fiat currency pairs by total volume last month was P2PB2B with $30.98 billion traded.

It was followed by Coinsbit, which traded $16.37 billion after seeing its volume more than double, and Bithumb which traded $7.42 billion after seeing its volume rise 15.24%. CryptoCompare’s Exchange Review also looks into predominant fee types on the market, derivatives data, stablecoin volumes, trans-fee mining exchanges, decentralized exchanges, and derivative products.

Co-founder and CEO of CryptoCompare said in a press release shared with CryptoGlobe:

CryptoCompare’s high quality, granular analysis, ranking the global exchanges, has brought greater transparency to the crypto asset class, enabling market participants to make better decisions.

DDEX was the top decentralized exchange in November, despite seeing its volume drop over 40% since October. IDEX and BitSquare, the other two top decentralized exchanges, saw their volumes drop 19.97% and 19.81% respectively. DEXs, the reported noted, represent only 0.01% of the global spot volume.

When it comes to regulated bitcoin derivatives trading, CME has been dominating the scene with its volume going from $3.12 billion in October to $4.22 billion last month. Grayscale’s Bitcoin Trust (GBTC) saw its trading volume drop 17.5%, the report notes.

The top derivatives exchange in the cryptocurrency space was OKEx, with $91.5 billion traded in November. It was closely followed by Huobi, with $89.52 billion traded.

Source (Credit): CryptoGlobe

The BtcTurk Established in 2013, Turkey’s largest cryptocurrency exchange, with all major cryptocurrencies supported. According to the Blockchain Transparency Institute, BtcTurk is a top-25 exchange, with about $3.45 million in 24-hour trading volume.

Dash currently has Turkish lira trading pairs on the Sistemkoin, Vebitcoin, Koineks, Bitci, Ovis, and Koinim exchanges.

Increased adoption of cryptocurrency in Turkey.

The report states that in 2019, Turkey has struggled with currency devaluations of the lira, The rate of inflation reportedly as 20% at the beginning of the year and the latest data showing an annual inflation rate of around 10.5%. While the inflation rate is decreasing, it shows that the Turkish economy doesn’t secure consumers’ and investors’ confidence anymore. The growing accessibility of cryptocurrencies such as Dash enables consumers and merchants to be better able to escape the government-created inflation and currency uncertainty.

Dash consistently manifests an interest in the Turkey cryptocurrency market and the addition by BtcTurk represents progress. The cryptocurrency has made several attempts to take advantage of key conditions for growth in the country. Accordingly, these efforts include creating a Dash Embassy in Turkey. The embassy focused on hosting community outreach events in the region.

Dash’s focus on Turkey is backed up by market research, as the Statista Global Consumer Survey has shown that Turkey has the highest cryptocurrency adoption rate in the world, with 1 in 5 Turks claiming to own cryptocurrency, surpassing This places the country ahead of Latin American countries like Colombia and Brazil.

This, combined with high inflation rates for the lira, Dash seeking to maximize its adoption both in cryptocurrency-heavy markets and countries seeking alternative money due to currency devaluation.