Binance Loses Title of the World’s Largest Crypto Exchange (With Fees)

Crypto exchange OKEx has recently taken over as the world’s largest exchange with fees by 24 hour trading volume. At least for now. In the category of all exchanges, it is still preceded by BitMEX.

After climbing for a few weeks, OKEx has finally taken over Binance as the world’s most active fee-charging crypto exchange. It has handled more than USD 2 billion in the past 24 hours as of the time of writing, with the most traded coin being Bitcoin, shortly followed by EOS and then Ethereum.

Their ascent to largest exchange was shortly followed by the resignation of their CEO, Chris Lee, for personal, undisclosed reasons. In an emailed statement to Bloomberg, Lee said that his resignation was to “start a new life.” In a separate statement issued by his spokeswoman, Lee said it had been the “greatest pleasure and an honour” to work at OKEx and that he will return to the blockchain community after a short break to spend time with his family.

Largest markets with fees
(Source: Coinmarketcap.com, GMT 7:20 AM)

OKEx was founded in 2014, and is registered in Belize. In February 2018 OKEx was also the biggest crypto exchange with daily value over USD 1.8 billion, according to data from Coinmarketcap.com.

OKEx has also recently announced their plan to expand to Malta, newly dubbed the blockchain island, due to their friendly regulations. “We are confident in the Malta government’s approach and decided to make Malta a foundation for further OKEx growth,” they said in their official statement.