Kaiko: The market share of US cryptocurrency exchanges in the spot market has risen from 8% to 15% within a year

The crypto data agency Kaiko released data on platform X showing that the market share of U.S. crypto exchanges in the spot market has increased from about 8% to 15% within a year, nearly doubling, while the liquidity of Bitcoin in the domestic market is continuously strengthening and surpassing some offshore exchanges in multiple trading pairs.

Analysis suggests that this change is mainly driven by factors such as ETF demand, institutional trading consolidation, and improvements in compliance and transparency.