Binance Loses Ground to Rival Exchanges in Spot Trading Market Share, But Remains Top Exchange Overall
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Binance's spot trading market share fell from 62% to 40% in the past year according to a report.
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Korean exchange Upbit saw the biggest increase, going from 5% to 15.3% market share.
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When including derivatives trading, Binance is still #1 with 51.2% market share.
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Second-tier exchanges like OKX, Bybit, Bitget, and MEXC Global grew significantly.
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Binance's share of Twitter followers decreased 5% while OKX's increased 200%.