Posted 1/20/2024, 11:16:00 PM
Binance Loses Ground to Rivals as Regulatory Troubles Mount
- Binance's market share has dropped to 48.7% amid increasing regulatory pressures and the resignation of its CEO
- Competitors OKX and Bybit have capitalized on the situation, increasing their market shares to 15.7% and 11.6% respectively
- OKX and Bybit are focused on derivatives trading, which represents over 90% of their volumes
- Decentralized exchanges (DEXs) hold about 2.83% of total trading volume, with Orca and PancakeSwap being leaders
- Some exchange tokens like FTT, MX, BGB have doubled in value, while HT has declined despite high liquidity