Market Report: Binance's market share drops to 41.68%, Bybit's spot trading volume rises to second place

ChainCatcher news, Web3 data analytics company 0xScope released the 2024 CEX market report, with the following key points:

1. Binance remains the leader in the global centralized exchange (CEX) market, but its market share has decreased from 51.2% to 41.68%, with OKX,
   Bybit, and Bitget being the biggest beneficiaries of Binance's shrinking market share;
2. Spot trading volume: Binance's market share has decreased by 13% year-on-year but still leads, while Bybit has jumped from seventh to second;
3. Derivatives trading: Binance's market share has dropped by 8.4% year-on-year, while OKX, Bybit, and Bitget have seen significant increases;
4. Platform tokens: BNB dominates the market, while MNT surpasses other tokens due to its Layer-2 platform.