Data: The cryptocurrency spot trading market is becoming increasingly concentrated, with the two leading exchanges accounting for over 50%

ChainCatcher news, according to cryptocurrency market data provider Kaiko, the cryptocurrency spot trading market is becoming increasingly concentrated, with the top two cryptocurrency exchanges accounting for over 50% of the entire spot trading market, a slight increase from 2020. In 2020, the largest trading platform, Binance, accounted for only 24% of the spot market, while the current figure exceeds 50%.

Kaiko stated: "In the context of broader market activity being subdued, this trend may continue, putting pressure on smaller trading platforms."