🧠 What It Shows

Binance (in yellow) has overwhelming dominance in taker volume since mid-2020, currently around 89.6%.

Bybit (orange) saw early traction but has significantly decreased in dominance.

Deribit (purple), Bitmex (violet), and OKX (blue) maintain very minimal and stable dominance.

The blue line represents BTC's price, which tracks upward momentum from the lows of 2020 to new highs in 2025.

I break down crypto concepts, build interactive tools & share clear dev and market insights

🟨 Key Insight

Binance has become the dominant force in BTC trading, with taker volume market share approaching 90%.

This indicates traders are increasingly executing orders on Binance rather than other platforms.

📉 Platforms Losing Share

Bybit’s early 2020 rise now looks short-lived, with a sharp decline starting in late 2021.

Bitmex, once dominant in the pre 2020 era, is now almost irrelevant in taker volume.

Deribit and OKX retain niche usage, likely due to options and regional focus.

Binance now handles nearly 90% of all BTC taker volume.

The question is… why are the rest fading out?
Could this centralization pose a risk or is it just efficiency at scale?

🟡 What’s your go-to platform for trading Bitcoin?