© Reuters
GLOBAL MARKETS – Binance, which once dominated the cryptocurrency exchange market, saw its market share fall to 48.7%. This decline comes against a backdrop of growing regulatory pressures and the recent resignation of its CEO, Changpeng Zhao. In contrast, competing platforms OKX and Bybit took advantage of the situation, improving their market position to 15.7% and 11.6%, respectively. Their growth is largely attributed to the strategic focus on derivatives trading, which now accounts for over 90% of their trading volumes.
Decentralized exchanges (DEXs) continue to hold a stable market share, with approximately 2.83% of total trading volume. Within the Solana ecosystem, DEXs like Orca and PancakeSwap have been particularly notable. In the wake of these changes, some exchange tokens have seen their value increase significantly. Tokens like FTT, MX and BGB have more than doubled in value. JOE stood out, with a remarkable growth rate of 400%. However, not all tokens experienced the same evolution: despite high liquidity, the price of HT fell.
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