TechFlow news, on April 12, TokenInsight released its Q1 2024 Crypto Exchange Report. The total trading volume of the Top 10 exchanges reached $17 trillion in Q1 2024, with Binance leading the market. Bitget captured a 9.4% share, an increase of 2.77 percentage points, making it the exchange with the highest market share growth.
In terms of spot trading volume, March saw the highest spot volumes across platforms in recent years. Among them, Bitget recorded the highest month-on-month growth in spot trading volume. Compared to February, Bitget's spot trading volume surged approximately 173% in March, the only exchange exceeding 150% growth.
Regarding derivatives trading volume, platform volumes spiked in March, growing 105% month-on-month, with Bitget achieving the largest increase at 147%. Binance ranked first with a 44% market share. Bitget’s market share has risen by about 3.85 percentage points since April 2023, reaching approximately 12% currently. Based on the market share growth trend over the past year, Bitget is highly likely to further expand its derivatives market share in Q2.
In addition, exchange-native tokens across all major platforms showed upward momentum in Q1 2024. The tokens with the highest price increases were GT, BNB, and BGB, rising 108%, 95%, and 81% respectively—each outperforming Bitcoin's Q1 gains.
