Hello everyone!
I read an interesting news article here and I wanted to share it. It turns out that the cryptocurrency exchange Binance continues to maintain its leadership in the spot market. In July of this year, it managed to keep a share of nearly 40%, which is very impressive!
I found out that according to CoinGecko, the trading volume on Binance increased by 61.4% from June to July and reached $698.3 billion. In my opinion, this says a lot, especially against the backdrop of a general decline in trading activity among many centralized exchanges in the second quarter. Even taking this into account, Binance still dominated with a share of 38%.
The report also states that other exchanges, such as MEXC and Gate, hold the second and third places, and they also had a noticeable increase in volumes. However, I noticed that for some, like Coinbase, their market share has decreased over the year.
I think that the increase in volumes in July is related to the overall bullish sentiment in the market. It's nice to see that despite all the challenges, Binance remains a key player.