Crypto exchanges 2023 annual report by TokenInsight

After going through the article released by TokenInsight on the analysis and performances of crypto exchanges in 2023, it's exciting to see that despite the challenges faced in the course of the year, the year was crowned with success as the Q4 of the year brought restoration and confidence to traders and investors.

Highlighting the growth and market share of various cryptocurrency exchanges both CEX and DEX, while Binance remained top for cex, ORCA lead the race for Dex with an unbelievable surge towards the end of the year due to the gains in Solana ecosystem. Although, Binance market share dropped by 5 5% due to factors related to regulatory compliance and lawsuit against the CEO in November but overall, the exchange was able to maintain its lead unlike what happened in the DEX where GMT and dydx lost the position as top market share holders

Some exchanges like OKX, Bitget and Bybit also did remarkably well increasing in market share and trading volume making them ranked among the top 6 exchanges.

FTT token was another surprise of the year, with a remarkable growth of 270% in the Q4, FTT lead the exchange token growth followed by Bitget BGB and MEXC MX while CET and HT fell significantly with HT falling by almost 50%.

What are your assessment about the performance of this exchanges, do you see any exchange making any stride to compete with Binance by the end of 2024? Do you think ORCA can also maintain its position in the DEX world?