Large cryptocurrency exchanges like Binance and Crypto.com are losing market share to smaller rivals due to the rise of decentralized exchanges (DEXs). Binance saw its spot trading volume drop by more than 13% year-on-year, while its derivatives market saw a decline of 8.4%. Smaller exchanges like Bybit, Bitget, and OKX have taken advantage of Binanceâs decline to increase their market share. DEXs, in particular, are seeing significant growth in trading volumes, challenging centralized exchanges (CEXs). Binanceâs market share has been on the rise again in recent weeks. Share your thoughts, do you think this trend will continue?
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