The cryptocurrency trading landscape has observed a significant transition within the centralized finance (CeFi) sector, mirroring the decentralized finance (DeFi) space, which has recently recorded a 1.93% increase in total value locked (TVL) over a 24-hour period. As of September 4, the leading positions among the top ten centralized exchanges (CEXs) in terms of 24-hour trading volume have been claimed by Binance, Bitget, and Bybit.
Data from CryptoRank.io highlights the top ten CEXs for trading volume, with Binance, Bitget, Bybit, Gate.io, Crypto.com, Coinbase, OKX, Kraken, HTX, and WEEX comprising the list. In particular, Bitget’s remarkable growth signifies a noteworthy enhancement in its market presence.
Leading the charge is Binance, which has achieved a staggering $15.29 billion in 24-hour trading volume. This remarkable figure translates to an impressive 25.83% market share within the cryptocurrency sector, setting it significantly apart from its competitors.
In the second spot, Bitget has made a notable rise, recording a trading volume of $3.20 billion, thereby establishing a 5.47% market share. This growth showcases Bitget’s increasing influence in the increasingly competitive CEX landscape. Following closely, Bybit occupies the third position with a trading volume of $3.06 billion, corresponding to a 5.15% market share.
Gate.io ranks fourth with a trading volume of $2.97 billion, which brings its market share to 5.01%. Meanwhile, Crypto.com is positioned fifth, having recorded a trading volume of $2.48 billion and capturing a 4.17% market share. Coinbase closely trails with a 24-hour volume of $2.46 billion, reflecting a market share of 4.14%.
The list continues with OKX holding the sixth spot, boasting a trading volume of $2.45 billion and a market share of 4.13%. Kraken follows at seventh place, reaching a trading volume of $2.32 billion and securing a market share of 3.90%. HTX occupies the eighth position with a 24-hour trading volume of $2.12 billion, which grants it a 3.57% market share. Finally, WEEX rounds out the top ten, achieving a trading volume of $1.38 billion and a market share of approximately 2.33%.
This dynamic reshuffling in the rankings among centralized exchanges underlines the energetic nature of the cryptocurrency market, highlighting both the resilience of established players and the ascent of newer contenders.
