TokenInsight: Top10 Exchanges' Trading Volume in Q3 2023 Down 23% Than Q2

TokenInsight: Top10 Exchanges' Trading Volume in Q3 2023 Down 23% Than Q2

TokenInsight released Crypto Exchange Report 2023Q3. The report selected the Top10 centralized exchanges and summarized their data performance, aiming to help users understand the changes in the exchange market.

The report shows that in Q3, the total trading volume of Top10 exchanges was $6.1 trillion, a 23% decrease from $8.3 trillion in Q2. Coincidentally, the second quarter's trading volume also dropped 23% from Q1's $10.4 trillion. If this trend continues, the total trading volume in Q4 will be less than $5 trillion. It's worth noting that the total trading volume of Top10 exchanges in September was only $1.67 trillion, the lowest in the past year. In addition, the spot trading volume of the Top10 spot exchanges was $1 trillion, down 24.4% from Q2; the derivatives trading volume of the Top10 derivatives exchanges was $5.2 trillion, down 22.4%.

Binance's total trading volume in Q3 was $3.2 trillion. Although its market share decreased by 1.87% compared to the previous quarter, it's still in the leading position with a 53.4% market share. Exchanges such as OKX, Bybit, Bitget, and Coinbase achieved market share growth in the quarter.

Among the six exchanges that provide both spot and derivatives services, only Gate maintains a relatively high spot trading volume share of more than 30% (32%). KuCoin and Binance, ranked second and third, only have 19% and 16% of their trading volume from spot trading respectively.

To learn more, please read the full report: Crypto Exchange Report 2023Q3

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Source

Exchanges

Data

Binance

In This Article

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