The post Centralized Exchanges Dominate with $185.99 Billion in Weekly Trading Volume as Binance Dominates appeared on BitcoinEthereumNews.com.

Centralized cryptocurrency exchanges (CEXs) continue to play a dominant role in the crypto trading landscape, recording a total weekly trading volume of $185.99 billion across 58 active platforms. This significant figure underscores the sustained relevance of CEXs in the ever-evolving digital asset market. Binance remains the undisputed leader among centralized exchanges, reporting a staggering 7-day trading volume of $59.5 billion. The platform also recorded a 24-hour trading volume of $13.77 billion, further cementing its position as the top exchange in the industry. Bybit and Crypto.com Secure Top Spots Bybit and Crypto.com have solidified their positions as major players in the CEX market, securing second and third place with weekly trading volumes of $21.0 billion and $13.5 billion, respectively. These exchanges continue to attract significant trading activity, reflecting their growing influence. According to the data from Phoenix, Coinbase, OKX, and HTX are also among the leading exchanges, with Coinbase posting a 7-day volume of $10.2 billion, OKX at $9.4 billion, and HTX at $8.9 billion. These figures highlight the competitive nature of the market, where several platforms are vying for a larger share of the trading volume. The data also reveals that centralized exchanges account for 12.41% of the total crypto trade volume, showcasing their continued importance despite the increasing adoption of decentralized exchanges (DEXs). This ratio reflects the balance between traditional centralized platforms and the growing decentralized alternatives, offering insights into market trends. Source: https://blockchainreporter.net/centralized-exchanges-dominate-with-185-99-billion-in-weekly-trading-volume-as-binance-dominates/

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Filed under: News - @ August 16, 2024 1:11 am