Binance holds lead in crypto exchange market with nearly 50% share

WORLDWIDE – Binance has maintained its status as the dominant force in the cryptocurrency exchange market, holding a market share that hovers between 48.7% and 50.4%, even amid a tumultuous year and the recent exit of its CEO Changpeng Zhao. The exchange’s closest competitors, OKX and Bybit, have seen their market shares increase to 15.7% and 11.6% respectively, signaling a competitive but still uneven playing field.

The cryptocurrency exchange landscape remains largely under the control of centralized platforms. Despite the challenges faced by the industry, including the departure of high-profile executives and market volatility, these exchanges continue to outpace their decentralized counterparts. and PancakeSwap, two of the more prominent decentralized exchanges, have experienced their own share of fluctuations. However, they have only managed to achieve a peak market share of around 2.98%, underlining the dominance of centralized exchanges in the current market environment.

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