Late GM! To understand how much the crypto space has grown over the past 6–7 years, just look at Binance - it's approaching a 50% market share in Bitcoin spot trading, surpassing all other exchanges combined!
The CEX and DEX markets have grown exponentially in recent years, some details about Binance:
▶️Binance Leads with 50% Share of Bitcoin Spot Trading in Volatile Market
- As spot trading volume declined across the crypto industry, Binance's share of total daily Bitcoin spot trading volume increased from 33% to 49%.
▶️During hard times Binance maintains as the largest trading liquidity platform:
- For example, when Bitcoin dropped from $96K to $90K in the span of two days starting on February 24, spot trading volumes at Binance surpassed those of all other exchanges combined.
▶️Some altcoins still show relatively high spot trading volumes on Binance despite the broader market slowdown
- Large altcoins like BNB, APT and NEAR are still being traded with relatively high activity