VICTORIA, Seychelles, July 16, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has revealed in-depth insights into its growing market share as highlighted by CCData in the 2024 H2 Outlook Report. With the growing credibility and performance of centralized crypto exchanges, it’s more evident now than ever that there’s a shift in paradigm in crypto space.
CCData highlights the roles of various CEXs are changing as they take up new functions and responsibilities. Among which, Bitget has witnessed the 'largest uptic’ in market share by 38.4% growth followed by Crypto(dot)com and Bybit at 24.6% and 22.2% respectively. While bigger players such as Coinbase, OKX and KuCoin saw declines as compared to other growing CEXs.
Wider metrics such as open interest, funding rates, and derivatives trading to spot-ratio provide insights into the current market sentiment. Following the approval of BTC and ETH ETFs earlier this year, open interest soared according
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