FTX surpassed Coinbase as the second-biggest centralized crypto exchange in May
According to data compiled on The Block Research, the dominant player in the market was still Binance by far, which commanded a 64.1% share, followed by FTX (10.8%) and Coinbase (9.6%) during the monthly period.
After Coinbase, the most popular centralized exchanges during the period were Kraken (3.7%), Bitfinex (2.6%), and LMAX Digital (2.6%). Overall, crypto trading volumes increased by 19.6% in May, hitting a total of $830.4 billion.