Binance lose ground to rivals; DEX’s on the rise: Report

[_act_]

This is where I read it from: https://cointelegraph.com/news/binance-crypto-com-lose-ground-dex-rise

Sport trading volume decreased while also derivative trading volume decreased.

Binance, the world’s biggest crypto exchange, saw a 13% year-over-year decline in spot trading volume from 52.5% in October 2023 to its current 39.5% market share.

Mirroring its declining spot trading, Binance’s crypto derivatives market share also shrunk 8.4% year-over-year, from 50.9% in October 2023 to 42.5% by October 2024, according to an 0XScope research report shared with Cointelegraph.

This image gives you the market share of the derivative trading among top exchanges.



I think this is very good than for an exchange to have the lion trading volume.

[Zed0X]

The arrest and imprisonment of CZ really had a negative impact on the exchange didn't it? After all the ban in US, India, and some parts of Europe, it is also to be expected that their trading volume will decrease because these are major markets.

About the DEX, they are still too far away. Regulators might get to these platforms first before they could even compete with CEX.

[Z-tight]

Even with the decline, they still have the lion share according to the image you shared in your op, and i don't think their competitors are getting any closer to them. As for decentralized exchanges they are still very far away, they still lack volume to compete wirh binance and other centralized exchanges.

[Findingnemo]

The decrease is not really due to the increase in the volume on DEX, it's just due to the better and higher trading volume on other centralized exchanges. Still the decentralized exchanges are on the struggle and hardly has volume even for the top coins based on the marketcap value and Bisq like platform too lacks volume for most of the fiat while the volume on CEX almost hold it's value.

[joniboini]

My opinion about this didn't change after I posted it on another forum. I think it's a good idea that their volume is decreasing so we see more competition in the market. Especially if the total volume also increases, which shows that more people trade crypto while not relying on Binance completely. Again all of them are still centralized so if things go wrong it will take a long time to get your money back. CMIIW.

I believe DEXs' volume doesn't change much IIRC. Hopefully, they don't get reduced further due to requirements like KYC or something similar. What's the point of using DEX if that is mandatory?

[Coincollector]

The arrest and imprisonment of CZ really had a negative impact on the exchange didn't it? After all the ban in US, India, and some parts of Europe, it is also to be expected that their trading volume will decrease because these are major markets.

About the DEX, they are still too far away. Regulators might get to these platforms first before they could even compete with CEX.

Since CZ left, binance hasn't been as it used to be. I don't even see this new CEO often. I hope they bounce back. It was my first love ahah.

[Zed0X]

The arrest and imprisonment of CZ really had a negative impact on the exchange didn't it? After all the ban in US, India, and some parts of Europe, it is also to be expected that their trading volume will decrease because these are major markets.

About the DEX, they are still too far away. Regulators might get to these platforms first before they could even compete with CEX.

Since CZ left, binance hasn't been as it used to be. I don't even see this new CEO often. I hope they bounce back. It was my first love ahah.

Binance can stand on it's own now without CZ but, unlike before, there are more restrictions. They will take less risk and be more compliant with regulators because I'm sure the new CEO doesn't want to suffer the same fate as CZ.

They still dominate but it's good to have other major CEX catch up and level the playing field.

[hugeblack]

Since CZ left, binance hasn't been as it used to be. I don't even see this new CEO often. I hope they bounce back. It was my first love ahah.

Media appearances for the CEO are not always a good thing, as CZ's personality has always tried to link Binance's success to his personal success more than an addition to Binance.

Binance can stand on it's own now without CZ but, unlike before, there are more restrictions. They will take less risk and be more compliant with regulators because I'm sure the new CEO doesn't want to suffer the same fate as CZ.

This is what is supposed to happen, but because the market is global and the competition has become stronger, Binance will not be able to achieve what it did easily in the past.