Even before the FTX collapse, Binance was undoubtedly the biggest player in the crypto exchange landscape. However, the world’s largest crypto exchange has further increased its market share over the past six months, leaving competitors far behind.
According to data presented by BitcoinCasinos.com, in the United States, the United Kingdom, and Germany, the world’s three largest crypto markets, Binance holds over one-third of the crypto exchange market share.
Binance Has a Bigger Market Share than Coinbase, Liquid, Crypto.com, and Gate.io Combined
Although most of the leading crypto exchanges have befitted from the FTX crash in November last year, Binance remained the largest player in the market.
In January 2022, the world’s largest crypto exchange had a 15.5% share of the global market, according to CoinGecko and Statista data. By the end of the year, this figure jumped to 28%, three times more than Coinbase and four times more than Kucoin or OKX.
Binance’s market share is even larger in the world’s top three crypto markets. Statistics show Binance’s market share in the United States, the United Kingdom, and Germany is bigger than those of Coinbase, Liquid, Crypto.com, and Gate.io combined.
According to Statista, the world’s largest crypto exchange holds 32% of the US market. The second-ranked Coinbase has a three times smaller market share of 10%. Crypto.com and Liquid follow, with 8% shares, respectively.
In the United Kingdom, its market share is even bigger. While Binance holds 37% of the UK market, Coinbase, Liquid, Crypto.com, and Gate.io together have a 32% market share. The ratio is similar in Germany, where Binance controls 35% of the market and the other four crypto exchanges around 32%.
More than 75 million Monthly Visits
With a huge 28% share in the global market, Binance has much more monthly visits than any other crypto exchange platform.
According to Coingecko data, Binance had 75.4 million monthly visits in April, or double that of Coinbase as the second most-visited crypto exchange platform, which saw 38.1 million monthly visits. Huobi and Bybit ranked third and fourth with 30.2 million and 20.7 million visits. MEXC Global and WhiteBIT followed, with 15.7 million and 14 million visits, respectively.