- It’s Binance, Bitfinex, OKX, Coinbase and Kraken
- At the same time, ethers began to actively leave U.S. exchanges
- Experts believe other cryptocurrencies will soon begin to leave the U.S.
According to a Kaiko report, 72% of ETH liquidity is concentrated on five exchanges.
The Binance platform has accumulated the most liquidity. It is followed in descending order by Bitfinex, OKX, Coinbase and Kraken.
But even more interesting is another fact. Users began to withdraw ethers from U.S. exchanges more and more actively.
While U.S. crypto exchanges accounted for up to 54% of the ETH market share by May 2022, that figure has since dropped to 40%.
Kaiko believes international crypto exchanges are benefiting from U.S. regulatory crackdowns. After all, such platforms do not depend on U.S. laws.
Analysts also predict that the consolidation of liquidity on international platforms will only increase. And this phenomenon will affect not only ETH, but also other cryptocurrencies.
Remind that in recent months, the SEC massively filed lawsuits against cryptocurrency companies.
In early May, representatives of Binance complained that it is increasingly difficult for them to do business in the U.S. Coinbase, Gemini and a number of other established leaders have the same problems.
There are rumors that Coinbase will leave the States. This information was denied by the founder of the exchange, Brian Armstrong.
He said the company is “100% loyal to the U.S.”. And the firm’s general counsel, Paul Grewal, said Coinbase will continue to operate as normal even if litigation with the SEC ensues.