Centralized exchanges showed influence across major indicators in October. Binance maintained its top spot, but Gate led the way in terms of monthly growth.
In October, there was a lot of activity on centralized exchanges. Both the rally at the beginning of the month and the liquidations since October 11 have increased demand for more reliable liquidity in centralized markets.
Binance remained the leading centralized exchange, but Gate had the strongest month-over-month growth. |Source: Cryptrank
Gate is the leader among small exchanges, with trading volumes increasing compared to September performance. Binance is still the leader in total centralized volume, but activity decreased in October.
recent crypto trunks report This shows that crypto exchanges are no longer relying solely on general market hype.
Instead, centralized exchanges are looking to expand their brands and position themselves as more than just a place for trading. Even Binance is following the trend of strengthening the decentralized finance ecosystem and offering other integrated services.
Gate also advanced its position primarily through its launch pool, native Gate Layer network, and perpetual futures trading.
Spot activity on centralized exchanges expanded in October
Cryptorank research matched previous research report Spot trading volumes have expanded over the past month. Spot activity followed a relatively weak September, reflecting inflows from both retail and institutional investors.
Total spot value increased from $1.82 trillion in September to $2.42 trillion in October, representing 33% month-on-month growth.
Gate maintained its leadership position with a strong rebound in spot volumes. The exchange achieved revenue of over $159 million, marking a 31% month-over-month growth. The market achieved a record market share of 6.57%, inching closer to becoming the top exchange.
Binance’s October spot growth rate reached 29%, while KuCoin expanded by 218%. Spot volumes also include OKX, HTX, and Crypto.com.
Derivatives trading was split between Binance, OKX, and Bybit. KuCoin also expanded its derivatives trading volume in October following promotional campaigns and new product introductions.
Centralized exchanges accelerate competition between chains
The growth of the CEX ecosystem has also accelerated competition between the chain and the potential services and apps offered on it.
Although the BNB chain performed the best, other chains also started to gain momentum. Mantle has achieved another strong growth with the help of Bybit. The gate layer, the L2 chain built on top of the OP stack, also increased its impact. The Gate exchange’s native chain had the fastest adoption rate among CEX-affiliated blockchains.
Gate’s growth also depended on its launch pad activities. Gate stood out as a leader in new token launches, opening 35 new launch pools in September and October. Binance slowed activity with one Launchpool event, while Bybit and Bitget held six and eight events, respectively.
The influx into the launch pool shows that crowdfunding and the sale of selected new tokens are here to stay. The expanded activity also resulted in a $3.3 million reward, providing further incentives for Gate users. As a result, Gate has also established itself as the go-to platform for new launch pools.
