Crypto spot trading on CEXs recovers by 31% in Q3 after sharp drop
Crypto spot trading on major centralized exchanges surged by 30.6% in Q3, reaching $4.7 trillion after steep declines earlier in the year.Summary
Total spot trading volume on the top 10 centralized exchanges (CEXs) rebounded significantly in the third quarter, increasing by 30.6% to $4.7 trillion, according to TokenInsight. This recovery follows sharp declines in Q1 and Q2 and coincides with Bitcoin rallying above $123,000 in August, signaling renewed investor interest. Despite the spot market growth, derivatives trading remained dominant, with volumes rising about 29% to $26 trillion. Binance maintained its leadership in the spot market, holding approximately 43% of the market share, far ahead of competitors like MEXC and Bybit, which each held around 9%. Binance also led the derivatives market, seeing its share rise to 31.3% in September, while rivals OKX and Bybit retained second and third positions despite slight market share declines. TokenInsight noted that while leading exchanges remain dominant, the derivatives market is undergoing structural transformation with increasing competition from emerging players.
(Source：Cointelegraph)