- Crypto.com’s trading volume jumped to $134B in September.
- The platform listed 378 tokens, outpacing its rivals in the market.
Crypto.com has significantly grown digital asset trading in 2024, surpassing Coinbase Global Inc. in trading volumes across North America. The firm recorded a monthly spot trading volume of $134 billion in September.
This marks a significant surge from $34 billion in July, nearly a fourfold rise in two months. Collectively, the North American exchanges processed $183 billion in trading activity during September. Coinbase managed to record a trading volume of $46 billion.
Besides, the trend has prolonged over to October, with Crypto.com registering $112 billion of the total $173 billion in trading volume of the region. Since overtaking Coinbase in July, Crypto.com has maintained its dominance through the current month.
On the other hand, the third-largest exchange Kraken, remarkably lagged with $10 billion in trading activity in October. It’s crucial to note that one of the major reasons behind Crypto.com’s growth is its token offerings, listing over 378 tokens. These tokens include major crypto assets like Bitcoin (BTC), Ethereum (ETH), ecosystem tokens, and meme coins.
In addition, Coinbase and Kraken offer fewer than 290 tokens on their platform, which made Crypto.com an option for traders aiming for diverse investment opportunities.
The firm’s dominance has aligned with the lawsuit filed against them by the US Securities and Exchange Commission (SEC) after receiving a Wells Notice. It suggests the regulator’s intention to sue the exchange for operating as an unregistered broker-dealer and securities clearing agency.
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