In the world of cryptocurrencies, 2016 is more than 2 years ago and more like 2 decades ago. Several of the top exchanges have fallen by the way and 8 out of the top 10 have lost their spot if when considering chnage in trading volumes.
- In August 2016, OKcoin.cn was the top exchange with a 24 hour trading volume of $440 million, today, it sits in the 188th position with trading volume of just $17,000
- BTCTrade was second with trade volume of $218 illion, today it sits in 54th place with trade volume of $23 million.
- Of the top traded exchanges, only Huobi and Kraken have managed to keep their place among the top 10 exchnages.
- Huobi was third then in 2016, and is 4th now, and surprisingly it’s trade volume increased from just $165 million to $1.3Bn
This is how the top 10 cryptoexchanges then and now look like
1. Okcoin.cn (188th now). Today: Bitmex
2. Btctrade (54th now). Today: Okex
3. Huobi (4th now). Today: Binance
4. CHBTC (dead now). Today: Huobi
5. BTCC (38th now). Today: Bitfinex
6. Poloniex (29th now). Today: Upbit
7. BTC100 (dead now). Today: Bithumb
8. Btcbox (25th now). Today: Hitbtc
9. Itbit (39th now). Today: GDAX
10. Kraken. Today: Kraken
This seems to give credence to the assertion that cryptocurrencies have no permanence and all eventually die a slow and painful death.
Are you an old-timer in the crypto-currency business? Which cryptoexchnages do you recall from 2016? And which do you think will take over in the next 2 years? Please let us know in the comments section, and do subscribe to our newsletter for more financial news.