In 2024, Binance continued to hold its position as the largest centralized cryptocurrency exchange in the global market. However, its dominance showed signs of shifting, as its share of the total trading volume among the top 15 exchanges decreased by approximately eight percentage points, dropping from 47% to 39%. Despite this decline in market share, Binance experienced a remarkable increase in overall trading activity, with its trading volume nearly doubling to an impressive $7.3 trillion. This surge can be attributed to a combination of expanded services, increased user adoption, and a broader acceptance of cryptocurrencies among institutional investors.
