© Reuters
GLOBAL – Binance has maintained its status as a dominant force in the cryptocurrency exchange market, holding a market share that fluctuates between 48.7% and 50.4%, despite a tumultuous year and the recent departure of its CEO Changpeng Zhao. Its closest competitors, OKX and Bybit, saw their market shares increase to 15.7% and 11.6%, respectively, indicating that the playing field is competitive but still uneven.
The cryptocurrency exchange landscape remains largely under the control of centralized platforms. Despite the challenges facing the industry, including the departure of high-profile executives and market volatility, these platforms continue to outperform their decentralized counterparts. Uniswap and PancakeSwap, two of the most prominent decentralized exchanges, have seen their share of fluctuations. However, they only managed to achieve a maximum market share of around 2.98%, underscoring the dominance of centralized exchanges in the current market environment.
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