According to a new Coingecko report, centralized exchange crypto trading volume reached $18.83 trillion in 2024. This study examined the annual cumulative spot trading volume for major centralized crypto exchanges from January 2020 to December 2024, revealing changes in market share and trading activity over that period.
With each Coingecko, Binance has a volume of 39.0%, with trading at $7.35 trillion, while Bybit and Crypto.com recorded trading volumes of $1.75 trillion and $1.29 trillion, with market shares of 9.3% and 6.8%, respectively It represents.
The report highlights that 2024 totals below an all-time high of $25.21 trillion, despite an increase of 134.0% from $8.05 trillion in 2023. – Breaking the Burg Cycle, strengthening retail participation, and making big companies debut in the open market. In 2021, Bitcoin surged beyond its previous limits, and activities around stubcoins, altcoins and inappropriate tokens surged, contributing to unprecedented volumes of trading.
Small exchanges will see growth throughout 2024
Coingecko’s data further shows that Crypto.com experienced the most dramatic growth in centralized exchanges, with annual trading volumes increasing from $12.06 billion in 2023 to $1.29 trillion in 2024. .
BYBIT also recorded significant profits, expanding trading volume by 397.8% from $351.2 billion in 2023 to $1.75 trillion in 2024. Gate.io is small, with Gate.io reporting a growth rate of 241.5%, increasing its volume from $29.45 billion. $1.01 trillion between 2023 and 2024.
The shifting hierarchy between exchanges has seen a slight decline in market share compared to past years, but as established platforms like Binance maintain their dominant position, the market for flux is reflects.
In contrast, exchanges that held the majority of the market, including OKX, HTX and MEXC, had seen stock contracts from double-digit to single-digit 2020 by the end of 2020. FTX, which accounted for 2.6% of the volume in 2021 and 4.8% in 2022, are no longer a factor in the current landscape due to its final collapse.
Research Methods and Overall Findings
Coingecko’s methodology included tracking the annual cumulative spot trading volume of the top 15 centralized exchanges, including long-standing entities and relatively new market players such as Crypto.com and Bybit.
The analysis shows that overall activity in 2024 has recovered from the observed declines in 2022 and 2023, but has not recaptured the 2021 enthusiastic pace. Data shows that new exchanges have steadily erode market share of previous leaders. Inter-platform trading activities that continue to adapt to changing regulatory, technological, and user-driven power.
Among these shifts, Binance’s consistent performance and Crypto.com breakthrough reflects a continuous restructuring of market share by surpassing the $1 trillion volume mark. The study ultimately revealed that trading activity in 2024 marked a marked rebound from the recent slump, but the volume behind the bull market peak witnessed in 2021 is still lagging behind. It’s there.
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