BTC has recently been as steady as a rock, with not much to see, as the price has been oscillating within a range. At this time, my interest in the competitive landscape between exchanges has increased.

After digging into the data, Binance's spot market share has reached a nearly 12-month high. This growth has been achieved against the backdrop of a decline in overall market trading activity, indicating that users are primarily still using Binance.

There hasn’t been much change in BTC and ETH trading volumes either. Binance currently accounts for approximately 45.6% of BTC spot trading volume, the highest level since July 2024, nearing the historical high of 47.7% in June 2024.

After the theft at Bybit, it feels like they have fallen behind, suddenly losing their voice, which is quite a pity.