Report: Binance's spot trading market share is expected to be around 62% by March 2023.

According to the latest report from CoinGecko, as of Q1 2023, the spot trading volume of the top 10 cryptocurrency exchanges reached a record of 2.8 trillion US dollars, an increase of over 18% from Q4 2022. Since the low point of 0.5 trillion US dollars in December 2022, monthly trading volumes have also been on the rise, but have not yet reached the average of 1 trillion US dollars, a figure last seen in the first half of 2022. Global regulatory authorities have intensified their crackdown on CEX, leading market participants to flock to DEX, which has significantly increased its market share. The report estimates that DEX grew by 33.4% in Q1 2023, while CEX grew by 16.9%. However, the ratio of CEX to DEX trading volumes remained above 90% during the same period. Binance dominated the spot CEX market with a 62% market share in March 2023. On the other hand, Coinbase's trading volume decreased by 0.5% in Q1 2023.