2023’s been a rollercoaster in the centralized exchange (CEX) world; according to the latest 0xScope report, Binance is feeling the heat with its market share dipping. ⏬
It’s still the big dog, but there’s a catch – it’s slipping, down by 10% in trading volume and other key metrics.
OKX, now has the second spot in both spot and derivative trading. It’s not just OKX; Bybit, Bitget, and MEXC are also elbowing their way up, giving Binance a run for its money.
Spot trading is where the real drama unfolds. Binance’s still got the lion’s share, but it’s not as mighty as before, dropping from 62% to around 40%. 🤯
Derivatives trading? Binance leads but not by much, with OKX and others breathing down its neck. Binance’s slice of the pie shrank from 50% to 45%, while OKX’s piece got bigger, from 10% to 15%.
Binance and $COIN are neck-and-neck in deposit addresses, but OKX is catching up fast. Binance’s still the king of asset values, but it’s losing ground even here.
Binance might still wear the crown, but OKX and others are shaking things up. 👑