CoinGecko has just released its 2023 report on the crypto markets, which shows that centralized exchanges are still dominant, despite the issues faced by Binance.
Binance is indeed by far the largest crypto exchange in the world, but due to the problems it had in 2023 with the authorities, it has lost market share. While still dominant, it is now slightly less so.
CoinGecko crypto report: the dominance of centralized exchanges, Binance in the lead
The CoinGecko report reveals that 91.4% of cryptocurrency spot trading volumes occurred on centralized exchanges, with this percentage rising to 98% when considering crypto derivatives such as futures and options.
It must be said that it is quite obvious that derivative exchanges mainly take place on centralized exchanges, also because the latter can guarantee much faster transactions, and derivatives are mainly used by short-term traders and speculators.
In fact, comparing the overall trading volumes, those of derivatives are much high
We współpracy z: https://en.cryptonomist.ch/2024/01/17/coingecko-centralized-exchanges-still-dominant-despite-binance/
