Global Cryptocurrency Exchange Share Nears 99% for Binance

Doohyun Hwang

Summary

Binance showcased its dominant position with a 98.53% share in global cryptocurrency exchanges.
The trading volume share of domestic exchanges was only 1.46%.
CryptoQuant evaluated that Binance's market leadership is strengthening despite volatility.

Global cryptocurrency exchange Binance is showcasing its dominant position by surpassing a 98% market share in terms of trading volume worldwide.

According to on-chain data analysis platform CryptoQuant on the 17th, Binance's global cryptocurrency trading volume share reached 98.53% as of May. In contrast, the combined trading volume share of domestic exchanges was only 1.46%.

CryptoQuant stated, "The exchange trading volume ratio is a key indicator showing the market leadership of the exchange," and evaluated that "Binance is further strengthening its dominance in the global cryptocurrency ecosystem by expanding its market share even in a volatile market environment."