- Bitget, Coinbase, and Crypto.com top market share growth in spot trading.
- OKX, Binance, and HTX declined the most by market share growth.
- Binance remains the crypto exchange with the highest average daily trading volume.
Bitget, Coinbase, and Crypto.com captured the top spots for growth in total market share among spot and derivatives markets, according to a recent CCData report. The report reveals significant growth for these three platforms in 2024. Bitget’s market share increased by an impressive 4.05%, while Coinbase and Crypto.com saw growth of 3.89% and 3.39%, respectively.
With the increments, Bitget’s market share in the spot and derivatives market reached 10.5% in 2024. Coinbase and Crypto.com also saw their market shares climb to 5.43% and 4.71%, respectively. A key finding from the CCData report is Bitget’s remarkable 97.6% surge in spot trading volume. The crypto exchange set a new all-time high of $159 billion in spot trading volume in December 2024.
Related: Bitget Overtakes OKX, Becomes Top 3 Futures Trading Platform
The CCData report also revealed that Bybit and CoinW experienced positive trading volumes during the reviewed period. However, OKX, Binance, and HTX suffered the biggest market share losses in 2024. OKX’s market share dropped by 8.46%, closing the year down 12.4%. Binance’s share declined by 7.49%, resulting in a 35.1% deficit, and HTX lost 0.37% in spot trading volume, settling for a 0.98% loss for the year.
Related: Coinbase, Ripple CEOs Gain Profits With Pro-Crypto Election Victory
Important to Note: Growth Rate vs. Overall Valuation
It is important to note that the CCData report focuses on the growth rate of spot trading platforms over a specific period; not their overall valuation. For instance, despite the significant decline over the considered period, Binance remains the top cryptocurrency exchange by traded volume.
Recent reports show that Binance’s average daily traded volume is around $35 billion, about twice the volume of the second-ranked spot trading platform, Zedcex Exchange. Other top trading platforms in that category include Crypto.com, BTCC, and Bybit, each of which had average daily trading volumes of above $9 billion.
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