Crypto perpetuals had a record-breaking year in 2024, with trading volumes soaring past expectations as the top 10 centralized exchanges hit $58.5 trillion, more than double the $28 trillion recorded in 2023, according to data from CoinGecko, but Binance’s share dropped 20% in December. ( $BNB )

Yet, despite the overall market growth, cryptocurrency exchange Binance lost ground, with its market share dropping from 43% in January to 34% in December. The top 10 centralized perpetual exchanges recorded $21.2 trillion in trading volume in 2024 Q4, an increase of +79.6% from Q3’s figure of $11.8 trillion, the report reads.

Binance remained the largest player in the sector, but competitors gained traction. Coinbase International entered the top 10 for the first time in December after its trading volume increased by more than fourfold, the data shows.

On decentralized perpetual exchanges, trading volume also surged to $1.5 trillion in 2024, marking nearly a 140% jump from the previous year. Crypto exchange Hyperliquid caputred over 50% of DEXs’ market share in Q4, reaching more than 65% in December 2024. #Crypto #CoinectraX #Binance