Binance accounts for more than 50% of total crypto trading volumes across all centralized exchanges, as per a report by OxScope.Despite growing skepticism, centralized crypto exchanges remain the most preferred medium investors use to buy and sell digital assets.
The performance of CEXes has therefore become a barometer to gauge the health of the broader crypto market. Blockchain analytics protocol 0xScope recently published aBut while still being in the lead, noteworthy declines in dominance were observed. For context, Binance had a market share of 54.6% in October last year, which plunged to 45% after July 2023.
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