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Author: Shaun Paul Lee, Coingecko; Compilation: Deng Tong, Bit Chain Vision World
Who is the largest centralized exchange?
Binance is still the largest centralized exchange (CEX) with a market share of 43.7%.In December 2023, its spot transaction volume increased to $ 427.1 billion.The month -on -month (MOM) increased by 37.5%, and recorded $ 310.6 billion in November 2023.
The second largest centralized exchange is UPBIT, with a market share of 9.3%, and in December 2023, the spot transaction volume was US $ 90.7 billion.This means that the growth rate is 0.3%, recorded at $ 90.4 billion in November 2023.
As of December 2023, OKX became the third largest exchange with a market share of 8.9%and a transaction volume of 86.8 billion US dollars.
Binance market share
In the centralized exchange in 2023, Binance is a market leader of the total spot transaction volume, accounting for 52.6%of the market share.However, during the entire process of 2023, its market share gradually declined, and the market share at the beginning of the year was 63.5%, which fell to 43.7%by December.In terms of absolute value, Binance generated $ 38 trillion in transaction volume in 2023.
Binance has been facing supervision pressure in 2023, which reached its peak in November. The exchange agreed to pay a fine of 4.3 billion US dollars to resolve disputes over financial violations with the Ministry of Justice (DOJ) and the Commodity Futures Commission (CTFC).Zhao Changpeng (CZ) also agreed to resign from the position of CEO of the exchange.
Upbit is still the second largest exchange
In 2023, UPBIT successfully preserved the status of the second largest centralized exchange, with spot transaction volume reached $ 687 billion.This means that this year’s market share is 9.5%.UPBIT’s monthly spot trading volume reached a year -on -year high of $ 90.7 billion.In the fourth quarter of 2023, UPBIT trading volume reached 238.2 billion US dollars, an increase of 93.5%month -on -month.
As South Korea’s largest cryptocurrency exchange, UPBIT benefits from the premium of kimchi coins, and its local demand for cryptocarim assets has led to its transaction premium.
OKX ranks among the top three exchange lineups
OKX is the third largest exchange in 2023, with a market share of 6.7%and a transaction volume of 485.9 billion US dollars.In the fourth quarter of 2023, OKX’s transaction volume reached 177.9 billion US dollars, an increase of 151.6%month -on -month.
OKX’s market share in 2023 continued to increase. The market share began in January at 5.1%and 8.9%at the end of the year.In the third quarter of the transaction, the top three were squeezed out by HTX, but then regained the position again.Although HTX’s transaction volume has increased, OKX has increased more.
MEXC recorded the biggest increase in the fourth quarter of 2023
Although the top 10 centralized exchanges have increased in the fourth quarter of 2023, MEXC is leading, growing up to 203.7%($ 90.4 billion).Followed by Bybit, an increase of 16.2.1%($ 107.5 billion) and KUCOIN, an increase of 161.2%($ 49.2 billion).
At the same time, after the list in the third quarter, KUCOIN re -ranked among the top ten in the fourth quarter and defeated Kraken.As of the end of December, Kucoin is the ninth largest exchange with a market share of 3.3%.
The top ten market share of centralized exchanges (2023)
The market share of the top ten cryptocurrency exchanges from 2018-2022
The figure below shows the market share of the top 10 centralized cryptocurrency exchanges in 2022:
The figure below shows the market share of the top 10 centralized cryptocurrency exchanges in 2021:
The figure below shows the market share of the top 10 centralized cryptocurrency exchanges in the top 10 spot transaction volume in 2020:
The figure below shows the market share of the top 10 centralized cryptocurrency exchanges in 2019:
The figure below shows the market share of the top 10 centralized cryptocurrency exchanges in 2018:
