Binance Increases Monthly Market Share By 31% in 2022

According to data aggregated by The Block and presented by Casinos Enligne, Binance’s market share has grown from 59 percent in Jan 2022 to 78 percent as of Dec 21, 2022 (+31% in 2022).

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Here are the highlights from the data below:

• Binance, Coinbase top list of biggest cryptocurrency exchanges in November
• Binance increased its monthly market share by 31% in 2022
• Binance’s 2022 trading volume eclipsed $5 trillion in December 2022

Binance, Coinbase Top List Of Biggest Cryptocurrency Exchanges In November

According to spot market volumes from The Block, Binance finished the month of November with $505.62 billion in monthly exchange volume, good for 75.13% market share.

The top-five cryptocurrency exchanges in November 2022 in terms of spot trading volume can be found below.

1. Binance: $505.63B
2. Coinbase: $62.09B
3. Kraken: $23.91B
4. BTSE: 12.04B
5. LMAX Digital: $11.17B

Note: Based on spot market volumes for cryptocurrency exchanges. Includes largest exchanges with trustworthy reporting of exchange volume metrics.

Trading Volume Eclipses $5 Trillion In December 2022

For the year, Binance’s trading volume has eclipsed $5 trillion.

Despite reaching the milestone, Binance’s trading volume is set to decrease by a projected 40 percent year-over-year.

Compared to 2021, Binance’s trading volume was down 44.49 percent from January through November.