The return of Binance CEX: 52.6% market share in 2023

[MrSpasybo]

Binance CEX suffered many attacks in 2023, had to pay a $4B fine in settlement with the US Department of Justice and CZ had to leave the CEO position, losing market share to other CEXs such as OKX, ByBit, Bitget... but finally the giant is back:

"Binance remained the largest centralized exchange (CEX), with its market share at 43.7% in December 2023.

Binance was the market leader amongst the centralized exchanges, with 52.6% market share of the total spot trading volume in 2023^[1]."

I am a loyal user of Binance, I use and am satisfied with Binance services such as Spot Trading, Simple Earn & Staking. To me, Binance is not just a CEX, but also the heart of the BNB chain ecosystem. Binance also leads many market trends through sponsoring and conducting IEO^[2], Launchpad^[3] & Launchpool^[4] for dozens of new potential projects.

Even though CZ is no longer CEO, Binance's return also makes me feel more secure in continuing to use Binance as my first choice when wanting to trade crypto, and at the same time believe in the future of the BNB chain as well as growth potential of BNB token. I reshare a picture of a house in Vietnam with Binance's logo to demonstrate the popularity of Binance in the Vietnamese crypto market ^^

Are you a loyal user of Binance CEX? Will you continue to choose Binance as your best CEX for crypto trading in 2024 and 2025? Do you think Binance can continue to regain market share to capture more than 60% of the Spot market share in 2025?
[1] Market Share of Centralized Crypto Exchanges, by Trading Volume
[2] Binance IEO List
[3] Binance Launchpad
[4] Binance Launchpool Token Watchlist

[KryptoBull]

Even though CZ is no longer CEO, Binance's return also makes me feel more secure in continuing to use Binance as my first choice when wanting to trade crypto, and at the same time believe in the future of the BNB chain as well as growth potential of BNB token. I reshare a picture of a house in Vietnam with Binance's logo to demonstrate the popularity of Binance in the Vietnamese crypto market ^^

Are you a loyal user of Binance CEX? Will you continue to choose Binance as your best CEX for crypto trading in 2024 and 2025? Do you think Binance can continue to regain market share to capture more than 60% of the Spot market share in 2025?

Binance's position in the Vietnamese crypto market is huge, other CEXs cannot compete even though they have conducted many incentives and promotions. Similarly, CZ is always a monument in the market, CZ is not Sam.

I am also using Binance and do not want to use other CEXs because everything on Binance meets all my trading needs: many token pairs, high liquidity, many incentive programs. I'm happy that Binance is regaining market share and is recovering from a terrible 2023. I hope BNB token will receive a positive impact from Binance's development and create a new peak as soon as 2024.

[Charles-Tim]

I am a loyal user of Binance, I use and am satisfied with Binance services such as Spot Trading, Simple Earn & Staking. To me, Binance is not just a CEX, but also the heart of the BNB chain ecosystem. Binance also leads many market trends through sponsoring and conducting IEO[2], Launchpad[3] & Launchpool[4] for dozens of new potential projects.

There are other exchanges that you can also be satisfied with, but making sure that they are reputed. It is better not to have just one exchanges because anything unexpected can happen to your trading fund.

Staking on a centralized exchanges? Why not use a noncustodial wallet for the staking? You prefer where you do not have full control if your coins.

Even though CZ is no longer CEO, Binance's return also makes me feel more secure in continuing to use Binance as my first choice when wanting to trade crypto, and at the same time believe in the future of the BNB chain as well as growth potential of BNB token. I reshare a picture of a house in Vietnam with Binance's logo to demonstrate the popularity of Binance in the Vietnamese crypto market ^^

Binance did not have any closedown, not to talk of Binance return. Binance continue to operate even when CZ was in US and also when he is no more the CEO of Binance.

It will be good to be private than to let people know that you are using Binance. Physical attack is possible if people knows about Binance in your area that money sent from the exchange may not be traceable or difficult to be traced if done in the way it should be done.

[MrSpasybo]

There are other exchanges that you can also be satisfied with, but making sure that they are reputed. It is better not to have just one exchanges because anything unexpected can happen to your trading fund.

Staking on a centralized exchanges? Why not use a noncustodial wallet for the staking? You prefer where you do not have full control if your coins.

I also use GateIO and KuCoin, but their services are not as good as Binance. Binance's user support is really friendly and efficient.

I use Binance to buy crypto and store a small portion of crypto assets, for example, reserve USDT in Simple Earn and conduct BTC DCA as planned.

The majority of my crypto assets are stored in self-custodial wallets, which makes me feel more secure, especially after the FTX and Sam B.F.  😅

[Trongduy]

Are you a loyal user of Binance CEX? Will you continue to choose Binance as your best CEX for crypto trading in 2024 and 2025? Do you think Binance can continue to regain market share to capture more than 60% of the Spot market share in 2025?

The lack of CZ makes it difficult for the community to determine the main trend of the market. When Binance will suffer FUD, no one will come forward to provide information to reassure everyone. Binance will also be slow to develop because it has less advertising budget. 4 billion USD could do a lot of things but was used to pay fines.

I am also using Binance and continue to believe in the reputation of this exchange. The recent positive activities to regain market share prove that Binance is continuing to develop and compete with other exchanges in the market. I believe that in 2025, Binance will still be the largest CEX.

[MUGNIA]

I'm not a loyal Binance user, but as long as I trade on Binance, I've never experienced any difficulties in making transactions, withdrawals are the same as other exchanges, I only use Binance to trade coins listed there, the rest I mostly use local exchanges because I can say I'm not a  active trader

[paid2]

52.6% ... What the hell guys

This market is really over-centralized, what a shame.

If any POW coin had a pool hashing 52.6% of the total network hashrate, people would FUD and scream about excessive centralization, but if we talk of CEXes everything is fine. No problem with Binance owning the KYC of more than half of the market? no problem with the private infos (bank, mail, trade history) neither?, no problem to see price manipulations (like we are actually having with XMR and Binance)? Lol!

[MrSpasybo]

The lack of CZ makes it difficult for the community to determine the main trend of the market. When Binance will suffer FUD, no one will come forward to provide information to reassure everyone. Binance will also be slow to develop because it has less advertising budget. 4 billion USD could do a lot of things but was used to pay fines.

I am also using Binance and continue to believe in the reputation of this exchange. The recent positive activities to regain market share prove that Binance is continuing to develop and compete with other exchanges in the market. I believe that in 2025, Binance will still be the largest CEX.

The $4B and CZ shortage will slow down Binance's growth, but at least we still see Binance moving forward under Teng's leadership. I hope that everything will be fine until CZ returns.

I'm not a loyal Binance user, but as long as I trade on Binance, I've never experienced any difficulties in making transactions, withdrawals are the same as other exchanges, I only use Binance to trade coins listed there, the rest I mostly use local exchanges because I can say I'm not a  active trader

I agree, I have experienced other CEXs such as GateIO, KuCoin, Bitforex, Bitfinex... but did not find the simplicity, intuitiveness and many useful services like Binance. I have chosen Binance for the long term to trade crypto, and Binance Web3 Wallet is my favorite wallet application.

52.6% ... What the hell guys

This market is really over-centralized, what a shame.

If any POW coin had a pool hashing 52.6% of the total network hashrate, people would FUD and scream about excessive centralization, but if we talk of CEXes everything is fine. No problem with Binance owning the KYC of more than half of the market? no problem with the private infos (bank, mail, trade history) neither?, no problem to see price manipulations (like we are actually having with XMR and Binance)? Lol!

We are talking about different objects: mining power is different from spot trading volume dominance.

Similar to BTC.D being larger than 50%, we cannot say that the market is not doing well because BTC has taken up too much value. Or we can't say that the world has a problem with decentralization when China and India have very large populations.

I have no problem with Binance's development. As a user of Binance, the return of Binance is good news for me because I don't have to worry that Binance will go bankrupt and cease operations.