The 0xScope team has published a report on the current status of centralized exchanges (CEX).
According to their findings, Binance still holds a dominant position, but its market share is declining while OKX remains firmly in second place.
Currently, Binance accounts for 51.2% of digital asset trading volumes among CEXs. This is a drop from 54.6% in October 2022 and 45% in July 2023.
Other top exchanges in the “second tier” include OKX (13.4%), Bybit (9.6%), Bitget (7%), and MEXC (6.9%). In the week of October 17, OKX saw an increase in trading volume to 16.1%, up from 10.5% a year ago.
Other exchanges also saw healthy growth during this time. For spot trading volume, Binance saw a slight increase over the past year to 52.5%.
In second and third place were South Korea’s Upbit (6.8%) and Coinbase (5.8%), respectively. OKX and MEXC maintained a share of about 5%, while the remaining exchanges had 3.2% or less.
