The research report on the H1 2023 State of the Exchanges has been published by Coin Market Cap (CMC). It includes both CeFi and DeFi.

Binance is on Top

     CMC claims that Binance holds the top position with a 59.99% share of the total spot trading volume. Binance continues to dominate liquidity in the large-cap sector, Binance's new listings focus on high-quality mainstream coins. Binance also has the largest Proof of Reserve at $50 billion.

The Second and Third exchange

Coinbase and Kraken come in second and third, respectively, in spot trading after Binance. In terms of new listings and memecoins, BitForex and Bitget are in second and third place, respectively. OKX and Bitfinex with $10 billion in Proof of Reserve.

Binance Unbeaten

Since CMC is also owned by Binance, its report will be positive towards Binance. But Binance itself is really strong in the market. Ownership of CMC gives it diplomatic strength in the field of analysis as well.