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The top crypto exchanges in the world are eating up a bigger and bigger share of the industry’s trading volume, new data suggests.
Crypto insights firm Kaiko says in a new report that the eight biggest exchanges in the world account for over 91% of market depth and 89% of all volume.

As it was several years ago, Binance still leads the pack.
Says Kaiko,
“Liquidity is concentrated and has become more concentrated over time. In 2023, the top exchange, Binance, has accounted for 30.7% of global market depth and 64.3% global trade volume. The top 8 largest platforms account for a whopping 91.7% of depth and 89.5% of volume.
Since 2021, Binance’s market share of spot volume has increased from 38.3% to 64.3%. It should be noted that a big part of this increase was linked to Binance’s zero-fee trading promotion.”
Source: Kaiko
Kaiko says liquidity is concentrated within just a handful of exchanges, and while there are hundreds of trading platforms in existence, most only cater to a niche segment of market activity.
“While it may be optimal from a market perspective to have liquidity concentrated on just a few exchanges, the cryptocurrency industry generally holds decentralization in high regard. When it comes to centralized exchange (CEX) liquidity, there is little decentralization.”
Due to the anti-crypto regulatory agenda in the US, Kaiko says that altcoin liquidity has suffered, and has become very concentrated within three major exchanges: Coinbase, Kraken and Bitstamp.
“Kraken’s altcoin liquidity has performed particularly well, making it a strong contender with Coinbase. Since August 2022, Kraken has not seen any drop in market depth for the top 30 altcoins, whereas Coinbase has lost ~$5 million in liquidity.”
Source: Kaiko
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The post Crypto Liquidity Becoming More Concentrated Within Top Exchanges, Says Analytics Firm Kaiko appeared first on The Daily Hodl.


The top crypto exchanges in the world are eating up a bigger and bigger share of the industry&#8217;s trading volume, new data suggests. Crypto insights firm Kaiko says in a new report that the eight biggest exchanges in the world account for over 91% of market depth and 89% of all volume. As it ...

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Crypto Liquidity Becoming More Concentrated Within Top Exchanges, Says Analytics Firm Kaiko


The popular ChatGPT AI language model has seen its traffic shrink for three consecutive months. According to data released by Reuters, worldwide desktop and mobile website visits to the ChatGPT website decreased by 3.2% to 1.43 billion in August. 



This followed approximately 10% drops from each of the previous two months. 



Is the ChatGPT Craze Starting to Fade?



ChatGPT’s competitors are capitalizing on this opportunity. Google’s Bard and Gemini AI models are gaining significant traction in the market. 



Tencent, the Chinese multinational conglomerate, has also stepped into the game with its newly unveiled AI model, Hunyuan.



Read more: ChatGPT vs. Google Bard: A Comparison of AI Chatbots



While ChatGPT’s global usage has been on a steady decline, the US market tells a slightly different story. 



ChatGPT and Comparisons, Worldwide. Source: Similarweb



There was a slight increase in US-based ChatGPT use in August compared to its global stats, hinting at regional variances in AI adoption and usage patterns.



Speculations are rife about the future of ChatGPT. As we step into the new school year, some experts anticipate a spike in ChatGPT traffic. They argue that the AI model’s ability to assist with academic research and homework could increase usage.



Competition Heats Up



However, the competition is intensifying. As reported by BeInCrypto, Google’s Gemini has been making significant strides. The AI model’s advanced capabilities and seamless integration with Google’s suite of services provide it with a competitive edge.



Meanwhile, Tencent’s Hunyuan is turning heads in the AI community. The company’s official announcement highlighted the model’s versatility and adaptability, positioning it as a robust competitor in the AI sector.



Read more: ChatGPT Tutorial: How To Use ChatGPT by OpenAI



The AI wars are heating up, and the market is evolving quickly. While ChatGPT has been a dominant player, its recent slip in usage underscores the industry’s dynamic nature. The coming months will be crucial in determining whether ChatGPT can regain its lost ground or if the tides have turned in favor of its competitors.



In conclusion, while ChatGPT’s recent performance raises questions, the AI battlefield is far from settled. As technology evolves and competition intensifies, it’s clear that the battle for AI supremacy is just getting started.

      Disclaimer
        
      In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.
This article was initially compiled by an advanced AI, engineered to extract, analyze, and organize information from a broad array of sources. It operates devoid of personal beliefs, emotions, or biases, providing data-centric content. To ensure its relevance, accuracy, and adherence to BeInCrypto’s editorial standards, a human editor meticulously reviewed, edited, and approved the article for publication.

    
  
The post ChatGPT Usage Shrinks for Third Straight Month as Competitors Gobble Market Share appeared first on BeInCrypto.


ChatGPT's usage has fallen for three consecutive months, with competitors like Google's Bard and Gemini AI models and Tencent's Hunyuan gaining traction. Despite the decline, US usage slightly increased in August.
The post ChatGPT Usage Shrinks for Third Straight Month as Competitors Gobble Marke...

Frax Share price	$5.35
Low - High 24H	$5.35 - $5.51
Market cap	$396.92M
Volume 24H	$5.50M
All time high	$42.80 -87.49% January 12th 2022
All time low	$1.50 256.21% June 25th 2021
Genesis date	N/A

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