币界网报道：Binance continues to dominate Bitcoin liquidity with a 32% market share, according to a recent Kaiko report analyzing Q4 2023 exchange data. The world's largest crypto exchange also leads in overall spot trading volume, though its dominance has slightly declined from 60% to 54% year-over-year. Meanwhile, Bitget has emerged as the top platform for altcoin liquidity, commanding 25% of the market share in that segment. The report highlights how liquidity remains concentrated among major exchanges despite the industry's decentralized ethos, with Binance, OKX, Bybit, and Bitget collectively accounting for over 80% of total crypto exchange liquidity. Kaiko researchers noted that while Binance's regulatory challenges have impacted its market position, the exchange maintains strong liquidity due to its first-mover advantage and extensive user base. The findings underscore the ongoing centralization of trading activity even as the crypto industry continues to expand globally.