Challenger exchanges look to compete with Binance as OKX, Bitget claim market share

As reserves continue to decline across all major centralized exchanges (CEXs), Binance, the top exchange by trading volume, is beginning to lose market share to other competitors.

Data provided by Glassnode shows the peak for CEX Bitcoin reserves was hit in 2020, reaching 3 million BTC. Since then, levels have fallen to just over 2 million BTC.