Spot Market Trends: Binance’s dominance on the rise while Bitfinex continues to underperform

While exchange trading volumes continue to disappoint relative to the elevated levels we experienced in June, the market share amongst the exchanges is constantly shifting. Within the past few months, reported volumes show that the industry is becoming less fragmented as Binance's dominance becomes more prevalent. 

Back in March, Binance controlled 70% of the trading volume market share amongst the Bitwise Real 10 exchanges. Although its allocation declined to 53% in July, the exchange has been quickly regaining its foothold over the past few months.