TechFlow reports that cryptocurrency rating and research firm TokenInsight revealed in a report today that the total trading volume of the top 10 crypto exchanges reached an astonishing $34.26 trillion in 2023, down 16% from the previous year.
The report highlights that Binance's market share declined slightly, falling from 54.2% to 48.7% over the year. This drop of more than 5 percentage points is attributed to regulatory events and Binance's termination of its zero-fee Bitcoin trading campaign in March. Exchanges such as OKX and Bybit emerged as beneficiaries, with market shares increasing significantly by 4.3% and 2.2%, respectively.
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