The crypto market research platform Kaiko recently provided detailed comparisons between two major cryptocurrency exchanges, Binance and OKX. According to Kaiko’s data, Binance emerges as the exchange with higher liquidity when compared to OKX.
Kaiko’s website offers valuable insights into the relative volume and liquidity of various crypto exchanges, with a key metric being the “Market Share of Volume.” This metric divides the market share by volume into separate categories, distinguishing between exchanges operating in the United States and those operating globally. Binance’s presence in the global market share is significant, claiming 53.14% of the volume across 33 listed exchanges. However, in the U.S. market share category, BinanceUS holds a mere 0.63% of the volume, with Coinbase leading at 59.3%.
Additionally, Kaiko’s “Global Exchange Market Share of Volume” includes 23 cryptocurrency exchanges, including Binance and OKX. As of February 14, Binance accounted for a dominant 61.73% of the total share, while OKX held an impressive 7.98%.
Despite facing regulatory challenges, Binance has consistently performed well across various metrics on Kaiko’s platform. Notably, the exchange has maintained its leading position in terms of volume and liquidity, even amidst legal issues. Last June, the U.S. Securities and Exchange Commission (SEC) filed charges against Binance and its founder Changpeng Zhao. As a result, Zhao stepped down as CEO, and Binance agreed to pay a fine and exit the U.S. market. Despite these setbacks, Binance remains a dominant force in the crypto exchange landscape.
On the other hand, OKX continues to assert itself as a strong competitor among the top global crypto exchanges. Despite Binance’s lead, OKX holds its ground and remains a significant player in the crypto market.
