{"id":63529,"date":"2022-06-27T12:53:54","date_gmt":"2022-06-27T09:53:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63529"},"modified":"2025-09-06T09:29:44","modified_gmt":"2025-09-06T06:29:44","slug":"kaiko-forecasts-a-difficult-period-for-crypto-exchanges","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/kaiko-forecasts-a-difficult-period-for-crypto-exchanges\/","title":{"rendered":"Kaiko forecasts a difficult period for crypto exchanges"},"content":{"rendered":"<p>Cryptocurrency exchanges will be tested by adverse market conditions, shrinking client activity and problems among several industry participants. Some may go bankrupt if they are not bailed out by firms such as FTX or Alameda, Kaiko notes.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">In our latest Deep Dive, <a href=\"https:\/\/twitter.com\/riyad_carey?ref_src=twsrc%5Etfw\">@riyad_carey<\/a> covers the trouble exchanges could be in as volumes slow and fees compress.<\/p>\n<p>Check it out here: <a href=\"https:\/\/t.co\/1heLXy4SUS\">https:\/\/t.co\/1heLXy4SUS<\/a><\/p>\n<p>\u2014 Kaiko (@KaikoData) <a href=\"https:\/\/twitter.com\/KaikoData\/status\/1539980833989296131?ref_src=twsrc%5Etfw\">June 23, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analysts note that bear market symptoms include reduced liquidity and shrinking trading volumes. Such a situation exerts pressure on the financial results of crypto platforms, which derive most of their income from fees.<\/p>\n<p>Analysts&#8217; calculations show that in recent months trading volumes of Bitcoin have fallen. The May spike was an exception, driven by volatility linked to the Terra collapse.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"552\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-678-1024x552.png\" alt=\"\u0412 Kaiko \u0441\u043f\u0440\u043e\u0433\u043d\u043e\u0437\u0438\u0440\u043e\u0432\u0430\u043b\u0438 \u0441\u043b\u043e\u0436\u043d\u044b\u0439 \u043f\u0435\u0440\u0438\u043e\u0434 \u0434\u043b\u044f \u043a\u0440\u0438\u043f\u0442\u043e\u0431\u0438\u0440\u0436\" class=\"wp-image-177173\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-678-1024x552.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/1-678-300x162.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/1-678-768x414.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/1-678.png 1114w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: Kaiko.<\/figcaption><\/figure>\n<\/div>\n<p>Among risk factors for crypto platforms, analysts also cited shrinking fee sizes and challenges in ancillary lines (staking, venture investments).<\/p>\n<p><a href=\"https:\/\/forklog.news\/binance-us-obnulila-komissii-na-ryad-torgovyh-par\/\">Binance.US&#8217;s decision to waive fees<\/a> on some BTC pairs could intensify competition in the US market, where previously the most vulnerable positions were at Gemini.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"551\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-553-1024x551.png\" alt=\"\u0412 Kaiko \u0441\u043f\u0440\u043e\u0433\u043d\u043e\u0437\u0438\u0440\u043e\u0432\u0430\u043b\u0438 \u0441\u043b\u043e\u0436\u043d\u044b\u0439 \u043f\u0435\u0440\u0438\u043e\u0434 \u0434\u043b\u044f \u043a\u0440\u0438\u043f\u0442\u043e\u0431\u0438\u0440\u0436\" class=\"wp-image-177174\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-553-1024x551.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/2-553-300x162.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/2-553-768x414.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/2-553.png 1300w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: Kaiko.<\/figcaption><\/figure>\n<\/div>\n<p>In global terms, experts noted a noticeable rise in FTX&#8217;s market share, which squeezed Coinbase&#8217;s positions. By setting a new standard of low exchange fees, Sam Bankman-Fried&#8217;s firm managed to grow its client base.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"551\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/3-334-1024x551.png\" alt=\"\u0412 Kaiko \u0441\u043f\u0440\u043e\u0433\u043d\u043e\u0437\u0438\u0440\u043e\u0432\u0430\u043b\u0438 \u0441\u043b\u043e\u0436\u043d\u044b\u0439 \u043f\u0435\u0440\u0438\u043e\u0434 \u0434\u043b\u044f \u043a\u0440\u0438\u043f\u0442\u043e\u0431\u0438\u0440\u0436\" class=\"wp-image-177175\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/3-334-1024x551.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/3-334-300x162.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/3-334-768x414.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/3-334.png 1300w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: Kaiko.<\/figcaption><\/figure>\n<\/div>\n<p>Analysts also noted expansion of services to attract new users. The details of such products often remain opaque, they added.<\/p>\n<p>In this context, the real danger comes from smaller exchanges, whose market share has fallen. As an example, analysts cited a platform from Japan offering up to 5% annual yield on BTC, ETH and XRP. In its documents the firm warned that \u201cthe provided cryptocurrency loans are not managed as separate funds\u201d and there is no guarantee that users will be reimbursed if it goes bankrupt.<\/p>\n<p>Another worrying trend is the plunge of crypto platforms into venture capital. To illustrate, Kaiko recalled <a href=\"https:\/\/u1f987.com\/en\/news\/voyager-digital-trims-daily-withdrawal-limit-amid-3ac-troubles\">Voyager&#8217;s troubles<\/a> as a result of liquidity difficulties at Three Arrows Capital, and also <a href=\"https:\/\/u1f987.com\/en\/news\/tether-says-celsius-incident-did-not-affect-usdt-reserves\">Tether&#8217;s loans to Celsius<\/a>.<\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-bitcoin-slump-threatens-4-billion-in-miner-loan-defaults\">Bloomberg reported that Bitcoin&#8217;s drop has put at risk<\/a> miners&#8217; loans worth $4 billion.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our Telegram \u2014 for news on cryptocurrencies, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency exchanges will be tested by adverse market conditions, shrinking client activity and problems among several industry participants. Some may go bankrupt if they are not bailed out by firms such as FTX or Alameda, Kaiko notes.<\/p>\n","protected":false},"author":1,"featured_media":63530,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,1261,1138],"class_list":["post-63529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-kaiko","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=63529"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63529\/revisions"}],"predecessor-version":[{"id":63531,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63529\/revisions\/63531"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/63530"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=63529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=63529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=63529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}