Bitcoin Volume On the Move as Traders Embrace No-Fee Exchanges

Markets Weekly is a weekly column analyzing price movements in the global blockchain token markets. This edition looks at the week from 21st through 28th January.

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Bitcoin trading volume is shifting to new exchanges, data shows.

Following the decision by major China-based exchanges to end the practice of no-fee trading (at the request of the country’s central bank), their lesser-known competitors have begun to claim the top spots in terms of transaction activity.

In the aftermath of the big exchanges adding trading fees – BTC100 and CHBTC – two China-based marketplaces, have climbed the number one and number two spots in trading volume, according to CoinMarketCap figures and the companies’ websites.

BTC100, which came out on top, enjoyed more than 36,000 BTC in volume over the last 24 hours, and CHBTC, the runner up, saw roughly 29,000 BTC of transaction activity in this time.

This screenshot shows the volume that these two exchanges commanded at the time:

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In contrast, Poloniex, Bitfinex and BTCC, the three largest fee-charging exchanges when ranked by no-fee trading volume, saw more than 20,000 BTC, 9,000 BTC and 8,000 BTC, respectively, during that period.

‘Big five’

While it might be too early to draw conclusions,

Read more ... source: CoinDesk

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