The Worlds Cryptocurrency Liquidity More Concentrated In CEX’s
Crypto liquidity is gradually becoming concentrated has the worlds exchanges are begun to acquire more of the industry trading volume. The insights was gotten from an analytical firm Kiko, says that at least eight top exchanges possessed 85.9% of the said volume. Binance still retains it's position as the first in the row.
Liquidity is concentrated and has become more concentrated over time. In 2023, the top exchange, Binance, has accounted for 30.7% of global market depth and 64.3% global trade volume. The top 8 largest platforms account for a whopping 91.7% of depth and 89.5% of volume.
Since 2021, Binance’s market share of spot volume has increased from 38.3% to 64.3%. It should be noted that a big part of this increase was linked to Binance’s zero-fee trading promotion.
The analyst firm says that the fact most of the industry’s liquidity concentrated in few exchanges it becomes more centralized regardless the industry advocates for a decentralized system.
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