Binance loses large chunk of CEX market share
I kid you not when I say that Binance used to process around 75% of all crypto transactions. There’s a reason $BNB is near $600. That said, things have changed considerably…
Binance has historically been the go-to for any crypto purchases and trading. As a Centralised Exchange (CEX), Binance has had the lions share for many years.
However, over the last year, Binance's share of the spot market has decreased from 52.5% to 39.5% 📉
😊 Main competitors — Bybit, OKX and Bitget have taken advantage of the decline in the largest exchange's market share.
🦄 Decentralised exchanges (DEX) are gaining traction! They handle 13.6% of the volumes of centralised exchanges.
This is really healthy for the industry because one monolithic platform is extremely high risk. I just hope that the DEX’s grow more over the coming years. Decentralised platforms are critical for the future of crypto.
I’m keen to hear your thoughts on this so please share your thoughts.
