TokenInsight: Top10 Exchanges' Spot Trading Volume in Q2 2023 Down 45% Than Q1

TokenInsight released Crypto Exchange Report 2023Q2. The report selected the Top10 centralized exchanges and summarized their data performance, aiming to help users understand the changes in the exchange market. According to the report, the exchanges' spot, derivative and total trading volumes all decreased in Q2 compared with Q1.

In Q2 2023, Top10 exchanges' total trading volume was $8.3 trillion, down 23% compared to Q1. The top 4 exchanges by trading volume were Binance, OKX, Bybit, and Bitget, whose combined market share exceeded 85% of the total market. Binance's leading position is stable as it has $4.3 trillion in trading volume. Although its market share dropped 3% from the beginning to the end of Q2, it still has over 50% of the market share. OKX and Bitget have the largest increase in terms of market share, 1.9% and 1.8% respectively.

In terms of spot trading, Top10 exchanges' volume was only $1.32 trillion, a 44.8% decrease from Q1 and a 52.5% decrease from Q2 2022. The top exchanges' derivative trading volume dropped 14.6% than Q1 to $14.6 trillion.

Among all the major exchange tokens, only $BGB, $LEO and $OKB increased in price in Q2. $BGB had the best returns, going up 22.6%.

For more information, please read: Crypto Exchange Report 2023Q2