Binance’s falling market share could present a significant opportunity for smaller rivals like Bybit and OKX.
Update Oct. 24, 9:54 am UTC: This article has been updated to remove inaccurate data related to Crypto.com.
Leading cryptocurrency exchange Binance is losing market share to smaller competitors, and decentralized exchanges (DEXs) are gaining momentum.
Binance, the world’s biggest crypto exchange, saw a 13% year-over-year decline in spot trading volume from 52.5% in October 2023 to its current 39.5% market share.
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