Coinbase dominates US market with over 75% market share

Coinbase has go the astir ascendant centralized crypto speech (CEX) successful the U.S. — accounting for 76.2% of the country’s full marketplace share, according to CoinGecko’s caller report.

Binance.US and Crypto.com travel Coinbase arsenic the 2nd and 3rd astir ascendant CEXs, the CoinGecko information revealed.

Top 5 successful the US

The information presented successful the study starts successful March 2022, revealing that Coinbase has been the large ascendant CEX successful the U.S. since then.

In the past 12 months, the lowest marketplace percent Coinbase accounted for was recorded successful April 2022, astatine 74%. Meanwhile, the highest was recorded connected August 2022, astatine 78.1%.

Top 5 CEXs successful the US (Source: CoinGecko)

Binance.US follows Coinbase arsenic the 2nd astir ascendant CEX successful the U.S. market. However, the speech lone accounted for 8.3% of the full marketplace stock successful March — reflecting immoderate growth.

Binance.US grew its marketplace stock from astir 6% done March, April, and May 2022, to implicit 7% successful July 2022. Throughout the 2nd fractional of 2022 and the opening of 2023, Binance.US consistently expanded its dominance successful the U.S. marketplace to implicit 8% — but for a little fallback recorded successful January.

Meanwhile, Crypto.com is ranked arsenic the 3rd astir ascendant CEX successful the U.S. market. However, the exchange’s dominance complaint shrank to 6% successful March, from the 8.8% recorded successful March 2022.

Kraken and Gemini besides made it amongst the apical 5 largest CEXs of the past 12 months by astir arsenic sharing the remaining 10% marketplace share.

Coinbase

It is worthy noting that the U.S. Securities and Exchange Commission (SEC) issued a Wells announcement to Coinbase connected March 22. The announcement indicated that the SEC had made a preliminary determination to urge an enforcement enactment against Coinbase.

The exchange’s archetypal effect was to invited a ineligible process, indicating that it was acceptable to legally basal its crushed with the SEC.

Even though Coinbase collected the crypto community’s support regarding the warning, the announcement specifies that the upcoming enforcement of the SEC volition apt interest parts of Coinbase’s main trading platform, Coinbase Prime and Coinbase Wallet — which could impact Coinbase’s marketplace stock wrong the U.S.

The station Coinbase dominates US marketplace with implicit 75% marketplace share appeared archetypal connected CryptoSlate.