TechFlow news, according to a data report released by CoinGecko on July 26, Binance maintained its position as the leading centralized exchange in Q2 2024 with a market share of 46.6%, down from 48.9% in Q1.
In June 2024, Binance's spot trading volume dropped to $424.7 billion, the lowest level of the year, representing a 22.7% decline month-on-month. Bybit emerged strongly in Q2 to become the second-largest centralized exchange, capturing a 10.5% market share—an increase of 1.8% compared to Q1. Gate was the biggest winner of the quarter, achieving a 51.1% growth in trading volume, adding an extra $85.2 billion.
Notably, Upbit, once the second-largest exchange, fell to tenth place, with its market share dropping from 9.0% in Q1 to 5.0%, and its trading volume plunging 53.7% month-on-month.
Overall, only four of the top ten exchanges recorded growth, while the rest saw declines in trading volume ranging between 9.0% and 50.0%.
