Two-thirds of the crypto trading volume last year is from Binance. Decentralization is strange
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2022 ended with a market share of 66.7% for Binance. This happened, among other things, due to the collapse of the main rival - FTX. After this event, Binance crushed the entire market even more.
The rise in market share of Binance came even as the platform faced a drop in spot trading volume of more than 45% amid an overall slowdown in the market. “They were followed by OKX and Coinbase with market shares of 8.58% and 8.50%, trading $813 billion and $805 billion respectively,” CryptoCompare said in a report.
Other market players also lost influence in percentage terms. For example, Coinbase dropped from 10.1% to 8.2% over the year, and OKX dropped from 10.7% to 5.9%.
The huge crypto-machine of the Canadian Chinese crushes small companies, and behind them - more and more large pieces of the market. It is not entirely clear in what direction this will affect the entire crypt in general and users in particular. After all, we remember that a monopoly will not lead to good.
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