Few #crypto exchanges dominate the market: Why this is concerning

Binance’s share of spot trading volume jumped from 38.3% in 2021 to 64.3% in 2023.Due to the SEC lawsuit, Binance’s market depth fell from 42% in 2021 to 30.7% in 2023.

For an ecosystem which pandered to the libertarian ideals of #decentralization, the increasing #centralization and dominance of a few crypto entities couldn’t get starker.