The exchange's spot trading market share has fallen by one-third in the past year.
Bybit, Bitget, and MEXC rank as second-tier exchanges, holding 42.3% of the market share.
In
a recent report by blockchain analytics firm 0xScope, a striking development in
the cryptocurrency exchange landscape has been unveiled. The report, released
on November 6, highlighted a significant decline in Binance's market share over
the past year, attributing it to a possible shift in the exchange's listing
strategy.
Binance's Market Share Trends
Binance
has witnessed a notable decrease in its spot trading market share, which has
dropped to 40% in late 2023 from 62% just a year ago. It means the firm has
lost one-third of its market share in the past 12 months. The report also underscored
the rise of the Korean crypto exchange Upbit, which has made gains during the
same period. Upbit's spot market share surged from 5% to 15.3%.
Spot and Derivatives Trading Volume, Source: OxScope
When
considering all crypto trading volumes, encompassing both spot and derivatives,
Binance's market share stood at 51.2% in October 2023. This was followed by OKX
at 13.4%, Bybit at 9.6%, Bitget at 7.0%, and MEXC Global at 6.9%. Notably,
Binance's market share has been steadily shrinking, as it stood at 54.6% in
October 2022.
Shifting Tiers in the Crypto
Exchange
During
this period, exchanges like Bybit,
Bitget, and MEXC have risen to become "second-tier" exchanges,
trailing Binance and OKX,
collectively holding a significant market share of 42.3%. Other exchanges like
Huobi, Kucoin, and Gate find themselves in the third tier, having gradually
fallen behind in the fiercely competitive market.
While
website traffic and social media followers are not seen as definitive
indicators of an exchange's market performance, the 0xScope report did note
some interesting trends. Despite an overall increase in its base value, Binance experienced a decrease of 5% in its share of X (formerly Twitter) followers in the past year. In
contrast, OKX managed to grow its raw follower count by over 200%.
The
coming months will be crucial for Binance and other major players in the cryptocurrency
exchange arena as they adapt to these changing market dynamics and strive
to maintain their positions in the industry.
In
a recent report by blockchain analytics firm 0xScope, a striking development in
the cryptocurrency exchange landscape has been unveiled. The report, released
on November 6, highlighted a significant decline in Binance's market share over
the past year, attributing it to a possible shift in the exchange's listing
strategy.
Binance's Market Share Trends
Binance
has witnessed a notable decrease in its spot trading market share, which has
dropped to 40% in late 2023 from 62% just a year ago. It means the firm has
lost one-third of its market share in the past 12 months. The report also underscored
the rise of the Korean crypto exchange Upbit, which has made gains during the
same period. Upbit's spot market share surged from 5% to 15.3%.
Spot and Derivatives Trading Volume, Source: OxScope
When
considering all crypto trading volumes, encompassing both spot and derivatives,
Binance's market share stood at 51.2% in October 2023. This was followed by OKX
at 13.4%, Bybit at 9.6%, Bitget at 7.0%, and MEXC Global at 6.9%. Notably,
Binance's market share has been steadily shrinking, as it stood at 54.6% in
October 2022.
Shifting Tiers in the Crypto
Exchange
During
this period, exchanges like Bybit,
Bitget, and MEXC have risen to become "second-tier" exchanges,
trailing Binance and OKX,
collectively holding a significant market share of 42.3%. Other exchanges like
Huobi, Kucoin, and Gate find themselves in the third tier, having gradually
fallen behind in the fiercely competitive market.
While
website traffic and social media followers are not seen as definitive
indicators of an exchange's market performance, the 0xScope report did note
some interesting trends. Despite an overall increase in its base value, Binance experienced a decrease of 5% in its share of X (formerly Twitter) followers in the past year. In
contrast, OKX managed to grow its raw follower count by over 200%.
The
coming months will be crucial for Binance and other major players in the cryptocurrency
exchange arena as they adapt to these changing market dynamics and strive
to maintain their positions in the industry.
Tareq is a financial writer with 15 years of experience covering global markets. His work spans technical analysis, forex broker reviews, and market sentiment, with a focus on topics relevant to retail traders. He joined Finance Magnates in 2023.
At Finance Magnates, he serves as News Editor, covering retail forex and CFD brokers, cryptocurrency exchanges, fintech firms, and regulatory developments shaping the trading industry. He holds an Honours degree in Information Technology from Anfell College, London.
Education:
Honours degree Information Technology, Anfell College, London
Finance Magnates Awards 2026 – Nominations Now Open
Finance Magnates Awards 2026 – Nominations Now Open
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Exness sees trust as the key theme for growth in MENA Trading Growth for 2026
Exness sees trust as the key theme for growth in MENA Trading Growth for 2026
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026
Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026
At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges.
Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges.
Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
Altima CTO Sunil Jadhav: Solving Data Fragmentation & Lag for Brokers & Prop Firms
Altima CTO Sunil Jadhav: Solving Data Fragmentation & Lag for Brokers & Prop Firms
Altima CTO Sunil Jadhav sits down with Finance Magnates to discuss the core technology challenges facing CFD brokers and proprietary trading firms today.
Jadhav explains how the industry's reliance on batch processing and fragmented systems (where CRMs, risk tools, and trading platforms operate with separate 'sources of truth') leads to delayed data and inconsistent operational decisions. He argues that real-time event processing is essential for managing fast-moving trading activity and risk.
Learn how Altima's unified, event-driven architecture, connecting Altima CRM, Altima Prop, IB systems, and risk management through a single backbone, is designed to provide synchronous data and better operational coordination for modern brokerage and prop firm stacks.
Key Topics:
- Broker and Prop Firm Data Challenges
- The problem of delayed data processing (batch processing vs. real-time events)
- Fragmented systems and conflicting data sources
- Altima's unified, event-driven solution architecture
- The concept of a "risk-aware CRM"
- Built-in risk management in Altima Prop
#Altima #financemagnates #iFXDubai #FinTech #BrokerTech #PropFirm #CFDBroker #TradingTechnology #RealTimeData #RiskManagement #CRM #FinancialMarkets #EventDrivenArchitecture
Altima CTO Sunil Jadhav sits down with Finance Magnates to discuss the core technology challenges facing CFD brokers and proprietary trading firms today.
Jadhav explains how the industry's reliance on batch processing and fragmented systems (where CRMs, risk tools, and trading platforms operate with separate 'sources of truth') leads to delayed data and inconsistent operational decisions. He argues that real-time event processing is essential for managing fast-moving trading activity and risk.
Learn how Altima's unified, event-driven architecture, connecting Altima CRM, Altima Prop, IB systems, and risk management through a single backbone, is designed to provide synchronous data and better operational coordination for modern brokerage and prop firm stacks.
Key Topics:
- Broker and Prop Firm Data Challenges
- The problem of delayed data processing (batch processing vs. real-time events)
- Fragmented systems and conflicting data sources
- Altima's unified, event-driven solution architecture
- The concept of a "risk-aware CRM"
- Built-in risk management in Altima Prop
#Altima #financemagnates #iFXDubai #FinTech #BrokerTech #PropFirm #CFDBroker #TradingTechnology #RealTimeData #RiskManagement #CRM #FinancialMarkets #EventDrivenArchitecture
