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While the collapse of FTX led to an overall decline in crypto trading volumes, Kraken and Bybit have seen an increase in commission revenue from spot trading and Bitget has seen an increase in derivatives trading revenue, Nansen analysts said.
Average monthly trading volume on the Kraken platform rose 14.4% to $18.9 billion and Bybit rose 7.65% to $18.2 billion. As for derivatives trading, Bitget’s average monthly volumes in the six months following the FTX collapse.
In the second half of the year, the company’s total shareholder value rose by 4.85% to $204 billion.
Nansen experts say an important role in maintaining user confidence in cryptocurrency platforms could be played by the open publication of Proof of Reserves (PoR) data, the reliability of which was confirmed by an independent audit.
Regarding the Binance exchange, it is said that the cryptocurrency giant has maintained relatively stable trading volumes after the FTX crash, with monthly revenues of about $428 billion.
Earlier, analyst firm Nansen reported that a lawsuit by the U.S. Securities and Exchange Commission (SEC) against the Coinbase and Binance exchanges led to an outflow of about $4 billion in user funds from the platforms.