OKX and Bybit Capitalize as Binance’s Market Share Declines + More News

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Year-to-date, crypto exchanges Upbit, Bybit, and OKX have made the largest gain in spot market share, according to on-chain analytics firm CCData’s Exchange Review. They increased their dominance by 6.39%, 4.89%, and 3.86% to 9.20%, 5.80%, and 7.41%, respectively.

Meanwhile, Binance, BeQuant, and Crypto.com continue to see the highest decline in market share by spot trading volume, falling by 19.5%, 3.28%, and 2.96% to 31.8%, 0.45%, and 2.03%, respectively.

Looking at derivatives volumes, OKX and Bybit had the highest increase in market share, rising by 2.75% and 0.61% to 24.9% and 14.2%, respectively.

Binance, however, saw the highest decline in market share last month, falling by 2.30% to 47.6%.

This was Binance’s lowest derivatives market share since October 2020.

That said, Binance was the largest derivatives exchange in November by monthly volume, trading $1.26tn (up 30.5% compared to October), followed by OKX ($660bn, up 53.8%) and Bybit ($375bn, up 42.9%).

OKX and Bybit were the best-performing derivatives exchanges in the last month, recording an increase of 53.8% and 42.9%, respectively.

Onchain asset custody protocol Safe (previously Gnosis Safe) is collaborating with Swiss-regulated digital asset banking group Sygnum and UK-regulated recovery service provider CoinCover to launch Safe{RecoveryHub}.

Safe{RecoveryHub} offers a comprehensive range of recovery solutions for all digital asset holders, from large institutions to individual users, the press release said.

Users can recover access to their accounts through designated recoverers (one or more),