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Binance vs. FTX: Is the competition closer than expected
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With cryptocurrencies becoming a fully established asset class over the past few years, various exchanges have risen to prominence. However there are also instances like Bitmex which was once king of derivatives, but currently has a lower open interest than Phemax and BTSE. Binance has been one of those players that have been in the game for a long time but has recently risen to the occasion.
An argument that can be made for such a phenomenon is that Coinbase, which isn’t bigger but equally dominant in the space hasn’t incorporated derivatives trading yet. Therefore, in this article, we will be comparing another rising contender, FTX, and evaluate if Binance’s grip on the industry can be threatened by this fairly new entity.
Source: Skew
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