Coinbase's U.S. Dominance Wanes as Smaller Exchanges Surge
CryptoNewsTerminal Staff09 Sep, 2024
Coinbase's U.S. Dominance Wanes as Smaller Exchanges Surge
Coinbase's dominance in the U.S. cryptocurrency exchange market is diminishing, giving way to smaller players. According to a report by Kaiko, Coinbase's market share peaked at 55% in March but has since fallen to 41% in early September. This decline coincides with the rise of smaller exchanges like Bullish, whose market share has nearly doubled to 33% during the same period. Analysts attribute this shift to Bullish's focus on institutional investors, while Coinbase caters primarily to retail traders.
