Binance Is Losing Ground | Binance's Listing Strategy Backfires | Binance's Empire Falling Apart

Binance, the world's largest crypto exchange, is losing ground to its competitors. A new report from 0xScope suggests that Binance's trading volume and other indicators are "around 10% lower overall," while competition from OKX and other "second-tier exchanges" grows stiffer.

The report found that Binance's spot market dominance has cratered to just 40%, down from 62% just one year ago. This decline may be due to Binance's listing strategy, which has seen many popular coins plummet in value immediately after listing on the exchange.

Binance is also facing increased competition from OKX, which has seen its volume share skyrocket from 10.5% last year to 16.1% in the most recently recorded week. Bybit, Bitget, and MEXC are also gaining ground on Binance, and all of these exchanges have "maintained healthy growth trends in the past year."

The report also found that Binance's dominance comes down substantially when looking at the deposit addresses opened at each exchange. Both Binance and Coinbase hold equal weighting at roughly 30% each, but Binance's share returns to 40% when only counting active addresses.

Overall, the report suggests that Binance's grip on the centralized crypto exchange market is weakening. It remains to be seen whether Binance will be able to regain its lost ground, but the rise of OKX and other "second-tier exchanges" is a clear challenge to the exchange's dominance.

In this video, we will discuss:

Why Binance is losing ground to its competitors
The impact of Binance's listing strategy!
The rise of OKX and other "second-tier exchanges"
What the future holds for Binance!

If you are interested in learning more about the changing landscape of the centralized crypto exchange market, be sure to watch this video!

Binance Is Losing Ground | Binance's Listing Strategy Backfires | Binance's Empire Falling Apart

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