Analysis: In 2024, cryptocurrency exchange activity is concentrated, with Binance holding 46.59% of the market share

ChainCatcher news, according to cryptocurrency analyst Maartunn on social media, the spot trading volume data for the cryptocurrency market in 2024 shows that market activity is highly concentrated among a few key players, led by Binance.

The cumulative spot trading volume of Binance has reached $7.23 trillion, accounting for 46.59% of the market share. The top five exchanges collectively control about 81.24% of the cumulative spot trading volume; while medium-sized exchanges also have a certain trading volume, each exchange's market share is less than 10%; small exchanges collectively account for a negligible market share, with each exchange's share being less than 0.2%.