Binance Dominates Crypto Spot Trading: 55% Market Share Since FTX Collapse

Binance has dominated the cryptocurrency market ever since its notable growth over the past years. Following the collapse of the FTX cryptocurrency exchange, its rival Binance has gained more dominance in global crypto spot trading. It's extended its dominance over other crypto exchanges to an impressive degree.

According to data seen by the Financial Times, Binance hosted 55% of all crypto spot trading last month. CryptoCompare data shows that Binance accounted for 55% of global spot cryptocurrency trading in January, an increase of 7 percentage points since the collapse of FTX in November last year. This substantial market share solidifies Binance's position as a leading player in the crypto exchange landscape.

The World One News Page highlighted Wednesday events showing Binance spreading its wings across global nations. Furthermore, Binance has also been all over the headlines for donating $100 in BNB to the victims of the earthquake in Turkey, demonstrating its commitment beyond just trading volume.

The significant growth in Binance's market share since the FTX collapse signals a shift in the crypto landscape, with Binance now holding a commanding position in global spot trading.