The largest centralized crypto exchanges transferred $ 18.83 trillion to spot trades last year, but it is still less than a record of 2021.
In 2024, some platforms flew, while others fell behind. Data compiled by Crypto Price Agriculture CONINGOCO It is revealed The Benance led the pack in 2024, which had about 40% market share in the trading volume with $ 7.35 trillion. Bybit showed the data after 9.3%.
Although crypto.com shared only 6.8% of the market, it turned out to be the fastest growing exchange. In the last one year, it saw an increase of about +970% in the volume, in 2023 at the rate of $ 120.6 billion to 1.29 trillion dollars. Bybit and Gate.io finished second and third, obtained around +398% and +242% respectively.
Overall, the top 15 centralized exchanges saw $ 18.83 trillion in the Spot Trading Volume in 2024. And while the figure doubled from $ 8.05 trillion of 2023, the volume still remained below the previous peaks.
“While the trading volume in 2024 was much higher than in 2022 and 2023, it was still migrated as compared to 2021. During the 2021 bull cycle, $ 25.21 trillion was killed in annual versions in top 15 exchanges.”
Coingko
OKX, HTX, and Mexc are slipping from 2020 as new exchanges flew, while FTX did not make it even in 2022.
“FTX was also a major contender who calculated 2.6% volume in 2021 and 4.8% in 2022. It made it the sixth largest exchange in both years before its final collapse.”
Coingko
Coingecko states that it pulled the data from 2020 to 2024, ranked the top 15 centralized exchanges by the spot trading volume. The list included binance, bybit, crypto.com, upbit, okx, coinbase, gate.OI, HTX, Mexc, Bitget, Kucoin, Bithumb, KraKen, Bingx and Bitfinex.
