Exchanges growth according to trading volume last year?

Sanitough

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Quote from: YOSHIE on January 27, 2025, 10:11:20 AM

If you want to see data from 2018-2024, you can see here: Market Share of Centralized Crypto Exchanges, by Trading Volume, for more details about:
"The following chart shows the market share of the top 10 Centralized Crypto Exchanges in 2023 by Spot Trading Volume:

So the data being shown is different. In the report OP shared, it says Binance is losing popularity, being outperformed by Coinbase and Bitget. But in the report you shared, Coinbase isn’t even on the list. So now the question is, which one is more reliable? It’s confusing when sources contradict each other like this.

YOSHIE

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Quote from: R1dwanRz on January 22, 2025, 12:33:55 PM

Based on results from CCData, there are some changes in combined market share (spot and derivatives market). These exchanges were the biggest beneficiaries of 2024.

Yes, the exact goods are determined by the volume of trading to be their top and become rivals between other exchanges to determine the best and centralized exchanges, such as:

Quote

Binance the spot trading volume rose to $ 1.0 trillion in December 2024, up +2.3% from November. Binance recorded $ 979.1 billion in November 2024.

If you want to see data from 2018-2024, you can see here: Market Share of Centralized Crypto Exchanges, by Trading Volume, for more details about:
"The following chart shows the market share of the top 10 Centralized Crypto Exchanges in 2023 by Spot Trading Volume:

bitmover

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Quote from: R1dwanRz on January 22, 2025, 12:33:55 PM

Last year brought surprising trends in how the market reacted especially toward the end of the year. A biggest shift in the market during the last month led to massive trading volumes across exchanges.

Based on results from CCData, there are some changes in combined market share (spot and derivatives market). These exchanges were the biggest beneficiaries of 2024.

I find very strange to see such a reduce in the marketshare of binance. This is not what is going on in Brazil.

-6% is a huge loss. Anyway, binance is still the largest exchange by volume. See this reduce is good, as it means the exchanges market is less centralized.

dimonstration

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Dimon69

Quote from: freedomgo on January 27, 2025, 07:15:00 AM

Quote from: dimonstration on January 27, 2025, 07:12:29 AM

Current Binance now is like a mediocre exchange that lost its premium.

Seriously? because in the list below, they are still leading the race by a huge margin.

https://coinmarketcap.com/rankings/exchanges/

The point here is the growth of exchange as the title implies. Binance is still leading but not the same way like before since other exchange already catching up when it comes to growth factor to share on crypto liquidity.

Sure Binance is still at the top but how long they can hold that spot. There’s a lot of top exchange before like Binance, Kraken and Poloniex that dominates the exchange but they got overtaken by Binance since they stop growing at all.

So I’m serious on my statement.

freedomgo

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It’s good to see exchanges competing, so we’re not relying on just one or two as it’s too risky, especially if they can’t recover from hacks. Binance has SAFU, which is why it’s so popular, but you never know if the next hack might be too big for SAFU to cover. Unfortunately for me, I can’t use some of the exchanges mentioned, like Bitget and Coinbase, because of IP restrictions. So, I can’t really relate much to their success since I haven’t tried their platforms personally.

Quote from: dimonstration on January 27, 2025, 07:12:29 AM

Current Binance now is like a mediocre exchange that lost its premium.

Seriously? because in the list below, they are still leading the race by a huge margin.

https://coinmarketcap.com/rankings/exchanges/

dimonstration

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Dimon69

Quote from: R1dwanRz on January 22, 2025, 12:33:55 PM

Even though, Binance and OKX faced market share losses, Bitget and Coinbase were among the top gainers. This isn't surprising since they have been doing something like bringing out powerful trading tools and giving out earning opportunities through events, savings, launchx, poolx, which attracted users in large.

So, what factors do you guys think will drive market share changes in 2025?

I don’t know about Bitget popularity however I can comment on why Binance took a downturn recently since CZ was already out of the picture and they currently involved on a lot of shady projects including meme coin that featured on their launchpool which brongs massive losses to its user.

They have less appealing promotion and also the new CEO presence is not visible unlike CZ which frequently post updates to stay relevant to crypto community.

Current Binance now is like a mediocre exchange that lost its premium.

Maslate

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I’m not sure how reliable those rankings are, but it’s not always one exchange that stays on top. Take Binance, for example, it might drop in rankings on some lists, but it’s still the biggest and most popular exchange overall. The market is huge, but the number of legit and trusted exchanges is pretty limited. Even if some drop in rankings, they’re still guaranteed to make massive profits, especially with more people entering the market during bullish periods.

hugeblack

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Change in market share is a measure that may not give accurate results. If a platform has a billion dollar trading volume that has increased from a few million dollars, its performance will be better than a platform with billions of trading volume.

In other words, change in market share gives more positive results for small platforms than platforms with high trading volumes, in addition to neglecting factors such as regulatory restrictions, participant investments, and aggregate growth rates for previous years.

joniboini

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Speaking of headquarters, I believe Singapore is quite popular with crypto businesses. I believe Bitget is also located in Singapore even though some sources claimed their headquarters is in South Africa. I'm not sure how they do their daily operations but I won't be surprised if they have a separate office. They probably have a remote development or CS team too to save cost. At the very least, my local exchanges used to do that.

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Quote from: R1dwanRz on January 22, 2025, 12:33:55 PM

So, what factors do you guys think will drive market share changes in 2025?

Maybe their stance and how they simply manage their exchanges. With such statistics, you guys are winning with how you market that exchange you represent. So, congratulations to you and that only shows that whoever runs it is serious with how they do business. So, for as long as the volume is being retained and the customer service that's being offered is good, the share that these exchanges have will be retained. Also another factor is the approach that the government of the country where they are located.

joniboini

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Quote from: Phoenixtrader on January 24, 2025, 12:05:37 AM

Is there any link for more details on this analysis?.

Looks like OP took the data from this website[1]. I don't know which specific report he's quoting here, but you can download them as long as you're fine with giving them your e-mail.

I think the market moving away from the top 2 exchanges is good. We don't want a centralization of volume since it adds more risk. That being said, I'm not sure if innovations like airdrops, pre-listing market, etc will last long enough to make the top 5-10 exchanges compete with the top 2 comfortably. CMIIW.

[1] https://ccdata.io/research/exchange-benchmark-rankings

Phoenixtrader

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Quote from: R1dwanRz on January 22, 2025, 12:33:55 PM

Last year brought surprising trends in how the market reacted especially toward the end of the year. A biggest shift in the market during the last month led to massive trading volumes across exchanges.

Based on results from CCData, there are some changes in combined market share (spot and derivatives market). These exchanges were the biggest beneficiaries of 2024.

Even though, Binance and OKX faced market share losses, Bitget and Coinbase were among the top gainers. This isn't surprising since they have been doing something like bringing out powerful trading tools and giving out earning opportunities through events, savings, launchx, poolx, which attracted users in large.

So, what factors do you guys think will drive market share changes in 2025?

What I can deduce from this information is that there's a shift happenings in Cex dominance and it won't favour the top exchanges that we all know. As a trader, I choose platforms with fast listing ability and products that'll aid my journey I guess that's why we can see some dominance of the platforms on your chart. Is there any link for more details on this analysis?.

R1dwanRz

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Last year brought surprising trends in how the market reacted especially toward the end of the year. A biggest shift in the market during the last month led to massive trading volumes across exchanges.

Based on results from CCData, there are some changes in combined market share (spot and derivatives market). These exchanges were the biggest beneficiaries of 2024.

Even though, Binance and OKX faced market share losses, Bitget and Coinbase were among the top gainers. This isn't surprising since they have been doing something like bringing out powerful trading tools and giving out earning opportunities through events, savings, launchx, poolx, which attracted users in large.

So, what factors do you guys think will drive market share changes in 2025?

Topic: Exchanges growth according to trading volume last year? (Read 117 times)