Yo, the centralized beast Binance, once flexin’ with over half of the spot trading market (52.5%) back in October 2023, just took a nosedive. Now? Binance’s market share in October 2024 is sittin’ at 39.5%. And it ain’t just spot markets—derivatives feelin’ it too. Slippin’ from 50.9% down to 42.5%, that’s real pain. Meanwhile, DEXs (you know, those no-middleman, trustless protocols) are sneakin’ into the convo, and they ain’t askin’ for permission.
Bybit Movin’ Up, Bitget Smashin’ Plays, OKX Quietly Stacks
Check this. Bybit? It was just floatin’ back at No. 7 last year with 3.2% market share, just chillin’. But blink twice, now it’s holdin’ the No. 2 spot, like right behind Binance with a 8.51% share. How they pulled that? Fast moves, simple. Now, OKX? Sly moves too. Climbed from 5.4% to 6.38%, not loud, but effective. But the real kicker? Bitget’s in the game heavy, flexin’ from 8.2% to 12.7%. They’ve been droppin’ partnership bombs with Messi and Juventus, and people love a show. Trust and clout. You get that juice, you get the users. That’s the way the crypto cookies crumblin’.
And if you think the CEX boys are just gonna sit tight, nah, they tryin’ everything. But when DEXs are eatin’ away the pie, there’s no easy fix. They’re usin’ every trick in the book—fancy features, celeb endorsements—but there’s a storm brewin’ underneath.
DEXs Feedin’ While CEXs Still Play Catch-Up
So here’s the deal—DEXs ain’t just sittin’ in the shadows anymore. They are slowly munchin’ on the market. Back in March and June 2024, they blasted past $250 billion in monthly volume, levels that no one saw comin’ since December 2021. And don’t forget, DEXs now sittin’ pretty at 13.6% of the spot market. For every $1 billion a CEX’s got, a DEX is pullin’ in $136 million. That’s cold.
And it ain’t just numbers. People are shiftin’ from centralized exchanges because they want control, they want autonomy. No third-party intermediaries takin’ cuts or spyin’ on wallets. CEXs fightin’ for survival, but DEXs are out here building the future, brick by brick, trade by trade.
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