Markets
Crypto Exchange Market Share 2023-2024
The collapse of FTX in November 2022 means that the market share of Binance and other major crypto exchanges has changed significantly from month to month. Binance, for example, regained some of the market share lost between September and October 2022, with growth of 0.8 percentage points in the month of November. Kraken, in particular, was hit, as the one percentage point increase is the largest it has seen since 2021. Binance’s strong market position can also be seen when surveying the trade cryptocurrency pairs on such exchanges, such as for Bitcoin – transactions on Binance involving both Bitcoin and stablecoins are common. The news that Binance was set to take over FTX in 2022 initially led to a cryptocurrency trading volume this was two to four times higher than previous days.
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