PANews reported on February 13 that according to the Coingecko report, the total trading volume of centralized exchanges (CEX) reached 18.83 trillion US dollars in 2024, an increase of 134% from 8.05 trillion US dollars in 2023, but still lower than the historical high of 25.21 trillion US dollars in 2021.

Exchange Rankings:

• Binance continues to maintain its leading position with a market share of 39.0% and an annual trading volume of US$7.35 trillion.

• Bybit ranks second with a market share of 9.3% and a trading volume of US$1.75 trillion.

• Crypto.com ranked third with a market share of 6.8% and a trading volume of US$1.29 trillion.

Fastest growing exchanges:

• Crypto.com trading volume surged 969.7%, breaking the $1 trillion mark for the first time.

• Bybit grew 397.8% with trading volume reaching $1.75 trillion.

• Gate.io grew 241.5% with transaction volume reaching $1.01 trillion.

Market Trends:

Although trading volume rebounded significantly in 2024, it has not yet returned to the peak level of the 2021 bull market. The competitive landscape of the crypto trading market is evolving, with emerging exchanges such as Crypto.com and Bybit rising rapidly, while established exchanges such as OKX, HTX and MEXC have lost market share.