Blockchain analytics firm 0xScope shed light on the change in the market share of cryptocurrency exchanges in the past year.
In its report dated November 6, analytics firm 0xScope stated that crypto exchanges’ market shares happened in the last year made room for change. In the report 17 October 2022 with 17 October 2023 Data taken from stock exchanges between 2018-2018 was included.
According to the report, Binance, the world’s largest cryptocurrency exchange, has increased its total market share among central exchanges this year. to 52.5% hosted. However, Binance’s market share in spot markets only increased last year. 62% falling compared to the level to 40% declined:
Binance’s spot trading volume has dropped significantly in the past year, perhaps due to its listing strategy. Many of the popular coins dropped immediately after being listed on Binance. A year ago, at the beginning of the period covered by the report, Binance’s spot trading volume was 62%, but last month this rate fell to about 40%.
Additionally in 2023 of OKX share of the pie 13.4%Bybit 9.6%Bitget 7% and MEXC 6.9% was recorded.
Volumes in both spot and futures markets were included in this data. 0xScope emphasized that Binance still maintains its leadership with more than half of the total market share, but the gap with its biggest competitors is gradually closing.
The most powerful cryptocurrency exchange after Binance OKX happened. Bybit, bitget And MEXC second place candidate The stock exchanges stood out as:
Although Binance is still in the lead, the gap against its main rivals such as OKX and other second-tier exchanges appears to be narrowing.
While only centralized exchanges (CEX) are included in this data Volumes from decentralized exchanges (DEX) were not taken into account.