Is the Crypto Exchange Landscape Shifting?

[akeemqaz]

People are switching exchanges these days for various reasons. I personally changed due to P2P and regional issues.

Also, some exchanges supporting most regions are gaining significant attention and followers on social media.

I'm curious if these rapidly growing exchanges will eventually surpass the top ones, or if the top exchanges can maintain their dominance.

I'd like to hear people's thoughts on this. Which exchanges are you seeing rapid growth in, both in terms of social media followers and user base, and what do you think is driving this growth?

[Charles-Tim]

I do not think there is any shifting as of now. Some of the world known exchanges got some hindrance due to regulations but they are all still at the top. I mean both centralized exchanges and the Web3 exchanges. Although, it is worth knowing that the decentralized exchanges are the best for privacy.

[luckyledger]

I do not think there is any shifting as of now. Some of the world known exchanges got some hindrance due to regulations but they are all still at the top. I mean both centralized exchanges and the Web3 exchanges. Although, it is worth knowing that the decentralized exchanges are the best for privacy.

Totally! The status quo remains the same, in my opinion, and it will stay that way.

[yhiaali3]

Old popular exchanges still dominate the market, new exchanges find it difficult to compete with old exchanges that have gained trust and have a very large daily trading volume.

As you mentioned, perhaps exchanges that support more regions will gain more popularity due to the restrictions imposed by old exchanges on a large number of regions of the world due to bans and regulatory pressures by governments.

Many users are looking for exchanges that support most countries and do not require KYC.

[TryNinja]

Right now I still think most people use exchanges, especially because that's where volume is. However, there has definitely been an increase on people using decentralized protocols like Uniswap and quick exchange websites (like eXch). At the end of the day governments will keep pushing for more taxes and control on centralized exchanges, so it's natural for people to go the other way.

[Sarionadukecom]

Right now I still think most people use exchanges, especially because that's where volume is. However, there has definitely been an increase on people using decentralized protocols like Uniswap and quick exchange websites (like eXch). At the end of the day governments will keep pushing for more taxes and control on centralized exchanges, so it's natural for people to go the other way.

Alot of people still use exchanges that's certain. I've been observing twitter profiles of platforms like Bitget, gateio etc and the former has gained over 500k followers in two months.. that's an indication that some cex are gaining lots of recognition atm

[libert19]

I'm curious if these rapidly growing exchanges will eventually surpass the top ones, or if the top exchanges can maintain their dominance.

As long as current top exchanges continue being safe from hackers, and in case of hack they refund users, thus continuing to keep their trust and keep innovating with the progress in the sector — I don't think new ones will take them over.