Exchange market share data in 2024

Hey guys, I came across some data about market share and decided to create a discussion thread about it. The crypto market experienced a lot of new developments last year. Notcoin started the "tap to earn" trend, DeFi and RWA took on a new shape, Trump won an election, and BTC hit $100K.

Now, regarding the data—among the top 6 exchanges:
- Binance: -8%
- Bitget: +4.05%
- Coinbase: +3.89%
- Crypto.com: +3.39%


Check the pictures for more details. What do you think could be the reasons behind Binance losing momentum in terms of market share, while Bitget and Coinbase are gaining ground?

I've always been curious about how analytical "staff" obtain precise numbers that are actually confidential. I can't take it seriously until I know how they gathered the data for their analysis.

If we take this seriously, we could assume that Binance has absorbed nearly all possible markets. Everyone who knows about and wants to trade or hold crypto likely already knows Binance and has an account there. Binance is present in countries many people have never even heard of.


Other exchanges might grow due to promotional campaigns or stronger local presence. It’s similar to having a McDonald’s in your neighborhood, and then a KFC suddenly opens nearby. People might visit KFC out of curiosity, perhaps to try a new menu. But everyone who has ever visited that KFC has definitely been to McDonald’s before.

sariona said:

Hey guys, I came across some data about market share and decided to create a discussion thread about it. The crypto market experienced a lot of new developments last year. Notcoin started the "tap to earn" trend, DeFi and RWA took on a new shape, Trump won an election, and BTC hit $100K.

Now, regarding the data—among the top 6 exchanges:
- Binance: -8%
- Bitget: +4.05%
- Coinbase: +3.89%
- Crypto.com: +3.39%


Check the pictures for more details. What do you think could be the reasons behind Binance losing momentum in terms of market share, while Bitget and Coinbase are gaining ground?

Click to expand...

It's great to see you engaging with the latest developments in the crypto market. With the shifts in market share among exchanges, Binance has faced increasing regulatory pressure in various countries, including the U.S. and the EU. This scrutiny may have caused some users to feel uncertain about trading on the platform leading to users exploring another platform, Coinbase is known for this user-friendly interface, making it easy for newcomers, and with Bitget's "tap to earn" trend may have attracted users for flexible earning options in the DeFi space.

Things like this are what caused the shift in market shares among exchanges, others might have other reasons but this is just my opinion