Market Overview
The cryptocurrency market achieved historic growth in 2021, peaking in November at nearly $3 trillion and closing the year at $2.25 trillion—a 200% annual increase. Bitcoin and Ethereum repeatedly broke all-time highs, reaching record prices of ~$70,000 and ~$5,000, respectively.
Key Highlights:
Total Trading Volume: $112 trillion for 2021
- Perpetual Contracts: $57 trillion (50.9%)
- Spot Trading: $49 trillion (43%)
- Delivery Contracts & Options: Remainder
Year-over-Year Growth:
- Perpetual Contracts: 6x
- Spot Trading: 2.3x
- Options Market: 6x
Spot Market Landscape
Exchange Rankings:
- Binance: Dominated with $11 trillion spot volume (41% of top 16 exchanges, 22% global share).
- Huobi: Volume collapsed after exiting China, dropping from 16% to 7% market share.
- Upbit (KR): Rapid growth driven by "Kimchi Premium" during bull markets.
- FTX: Nearly doubled its market share.
- Crypto.com: Emerged as a dark horse, reaching 5.16% share by year-end.
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U.S. Compliant Exchanges
- Coinbase: Captured 50% market share post-NASDAQ listing.
- Kraken: 20%
- Crypto.com: 15%
- Fast-Growers: Binance US, FTX US surged in H2 2021.
Platform Tokens Performance
| Token | ROI (2021) | Peak Performance |
|---|---|---|
| KCS | 30x | - |
| CAKE | 16.7x | - |
| BNB | 12.5x | 6,332% (Q2 peak) |
Derivatives & Options
Perpetual Contracts:
- Binance: 40.8% share, rising to 56.87% by December.
- dYdX: Grew to 2.22% share in Q4 due to mining rewards.
Options:
- Total Volume: $460.6B (6x YoY growth).
- Deribit: Monopoly escalated from 68% to 87% market share.
FAQs
Q1: Which exchange led in spot trading volume?
A: Binance, with $11 trillion in 2021.
Q2: Why did Huobi’s market share decline?
A: Due to its exit from China, losing ~9% market share.
Q3: What drove Upbit’s growth?
A: The "Kimchi Premium" during crypto bull runs.
Looking Ahead
TokenInsight launches a mobile app for real-time analytics. Expect deeper databases and actionable insights. Feedback welcomed!
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