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 <p class="is-style-lead">According to recent data released by 0xScope, Binance, the world’s largest cryptocurrency exchange, is facing a decreasing <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> <a rel="noopener noreferrer nofollow" title="share" href="https://thebittimes.com/tag/share.html">share</a>, where it currently sits at 51.2%.&nbsp;</p>
 <p>Other major players like Huobi, Gate and KuCoin have also experienced declines in their <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> <a rel="noopener noreferrer nofollow" title="share" href="https://thebittimes.com/tag/share.html">share</a>s during the same time period.</p>
 <h2 class="wp-block-heading" id="a-steady-rise">A steady rise</h2>
 <p>The&nbsp;Nov. 6 report&nbsp;highlights that while Binance has maintained its top position in the centralized exchange arena, commanding over 50% of the <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>, its dominance has waned, particularly in the last year and last three months, as shown in a 10% decline in trading volume. The news comes alongside regulatory scrutiny and the departure of several key executives.</p>
 <p>At the same time, OKX has steadily risen to become the second-largest exchange for both spot and derivative trading, followed by Bybit, Bitget and MEXC. Meanwhile, Huobi has fallen behind, placing it in the third tier along with Kucoin and Gate.</p>
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 <p>When it comes to deposit addresses, the 0xScope report goes on to compare OKX and Binance in terms of deposit address activity, finding that the two exchanges had a similar number of active users while Coinbase is showing numbers that suggest historical deposit addresses are no longer being used.</p>
 <h2 class="wp-block-heading" id="okx-back-on-the-rise">OKX back on the rise</h2>
 <p>Another notable finding found that in terms of social media, and more specifically X, Binance is showing a downward trend despite increasing followers; at the same time, OKX has tripled its following.</p>
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 <p>Although the report was released with an investment from OKX Ventures, the findings do suggest an interesting state of the market.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> CoinGecko reports top CEXs, Kucoin falls out of top 10
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/research-reveals-binance-s-shrinking-market-share-in-cexs-tbt69240.html">https://thebittimes.com/research-reveals-binance-s-shrinking-market-share-in-cexs-tbt69240.html</a></p>

Research reveals Binance’s shrinking market share in CEXs

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