In a universe where numbers dance and wallets weep, crypto perpetuals have decided to throw a party, and oh, what a party it is! By the time we reached the dizzying heights of 2024, trading volumes had ballooned to a staggering $59 trillion. Yes, you read that rightâtrillion with a capital T! đ
Now, while the top 10 centralized exchanges were busy raking in a jaw-dropping $58.5 trillion (which is more than double the $28 trillion they managed to scrape together in 2023), Binance, the once-mighty titan of the crypto seas, found itself slipping on a banana peel, losing a rather unfortunate 20% of its market share in December. Oops! đ
Despite the overall market growth that could make even the most stoic of accountants shed a tear of joy, Binance’s market share plummeted from a robust 43% in January to a mere 34% by December. Itâs like watching a majestic ship sink while the crew argues over who forgot to check the lifeboats. đ˘
But fear not, dear reader! Binance may have lost some ground, but it still clings to its title as the largest player in this cosmic game of digital poker. Meanwhile, Coinbase International decided to crash the party, waltzing into the top 10 for the first time in December after its trading volume skyrocketed by more than fourfold. Talk about a glow-up! đ
On the decentralized side of the universe, trading volume also decided to join the fun, surging to a delightful $1.5 trillion in 2024âa nearly 140% increase from the previous year. Hyperliquid, the new kid on the block, managed to snag over 50% of the DEXsâ market share in Q4, reaching a dizzying 65% in December. Itâs like they found the secret sauce for success! đ
âHyperliquid was one of the major highlights in Q4, owing to its successful HYPE airdrop. It managed to capture more than 55% of market share in Q4, reaching a high of 66% in December.â
â CoinGecko
Meanwhile, dYdX, once the king of the hill, saw its dominance shrink faster than a wool sweater in a hot wash, plummeting from 73% in early 2023 to a mere 7% by the end of 2024. And Bitcoin, the granddaddy of them all, remained the leading asset in perpetual trading, though it too decided to take a little dip, dropping from 43% in January to 34% in December. Itâs a wild ride, folks! đ˘
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2025-03-14 12:54