Brutal 30 days for crypto.

CEX volumes tanked 6.53% to $5.26T — lowest since Oct 2024.

But Binance? Absolute dominance while everyone else bleeds:

• Derivatives: 35.4% market share, $1.41T volume (more than OKX + Gate COMBINED)

• Spot: 21.3% share, $270B (more than the next 4 exchanges stacked together)

• Open Interest: 23.1% (2x the next competitor)

Liquidity is king. When the market freezes, capital flows to the deepest pools.

Binance isn't just winning — it's consolidating the entire game.