Spot trading pairs decline across exchanges

by Frank Chaparro

Companies • July 8, 2023, 5:48PM EDT

UPDATED: July 8, 2023, 6:00PM EDT

The Block

Quick Take

Monthly spot pairs on Binance, the largest exchange by global volume, fell from 1,420 in January to 1,380 in July.

Cryptocurrency traders have fewer pairs to punt.

The number of spot pairs across major cryptocurrency exchanges has declined over the course of the year, according to data compiled by The Block Research.

Monthly spot pairs on Binance, the largest exchange by global volume, declined from 1,420 in January to 1,380 in July, according to The Block's data dashboard. Its sister company, BinanceUS, saw monthly spot pairs decline from 337 in June to 184 in July.

The crypto market has seen exchanges end support for trading pairs in the wake of the U.S. Securities and Exchange Commission's suits against Coinbase and Binance earlier in June. The agency alleges that the exchanges traded unregistered securities.

Monthly spot trading pairs supported by Coinbase declined from 557 in March to 524 in July.

The number of spot pairs has also declined at Kraken, with the number of pairs declining from a high of 668 in February to 651 in July.

About Author

Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].