2026-01-10 18:26:28

Lüdong recently released the operational data comparison analysis of mainstream exchanges in December.

From the perspective of spot trading volume, the competition pattern among leading exchanges is the most obvious — the spot trading volume of the top players is roughly equivalent to the total of exchanges ranked 2nd to 6th, showing a significant advantage. However, in the derivatives market, this gap narrows considerably, with the second and third-ranked exchanges typically only 2 to 3 times smaller than the first.

If we also consider app download numbers and web traffic, which exchanges currently make up the first tier in the market? This question is worth deep reflection. The data reflects the changing trends in user choice and market recognition.

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PerennialLeek

· 01-12 09:50

Spot trading dominates, while derivatives are still competitive. It's clear that the market is undergoing a reshuffle.

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SchrodingerWallet

· 01-12 09:45

Spot market crushed to pieces, while the futures market is still fighting back? The difference is indeed significant. --- The top few players really understand each track, unlike me who gets cut every day. --- Wait, is the spot volume really that different? The data seems a bit exaggerated. --- Futures market competition is actually more intense, isn't that normal? Everyone wants a bite. --- Download numbers and traffic are superficial; it's more reliable to look at trading depth. --- Recently, the second and third exchanges have been really competing, it feels like the landscape is about to change. --- Another bunch of data analysis, but it's better to see which exchange pays out the fastest and most honestly. --- This is the real market mirror, without strength, you simply can't survive this long.

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GasGasGasBro

· 01-10 18:56

Spot trading is so competitive, but contracts are not as absolute anymore. Interesting. --- When will the era of monopolistic dominance by the big players be broken... --- The competition in the contract market is actually more intense, indicating user segmentation. --- Data looks good, but the real profit still comes from that group of veteran players. --- The combined total of spot trading from second to sixth place only equals the first place, the gap is huge. --- It feels like the next round will see a dark horse rise to the top. The current landscape is too rigid. --- Download numbers are the most superficial; truly analyzing trading depth is the real key.

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SerumSurfer

· 01-10 18:53

Spot trading is completely crushed by the big brother; only contracts are somewhat interesting.

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InfraVibes

· 01-10 18:37

Spot trading is so competitive, but contracts are not as absolute. That's interesting. The top players still have a ceiling; sooner or later, they have to share. Data is something that looks correct, but the details are the real torment. Is there still a chance in the contract market? It doesn't seem as difficult as I imagined. The volume in spot trading is so uneven; users are truly being drawn away. Overall, the landscape is gradually changing, and this wave of data is quite eye-opening. So who is the real winner? It still depends on what happens next. What does narrowing the gap indicate? Everyone is just struggling. Download numbers ≠ active users; I understand this trick. Is this the opportunity for small exchanges to bottom out?

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BearMarketGardener

· 01-10 18:32

Spot trading is so lopsided, but contracts can actually be played. Interesting... This data doesn't seem right. Why is the trading volume so low when the download numbers are so high? The contract market is the real competition. It's no fun if only one spot exchange dominates. Wait, are you saying that the top few players hold the entire market? Retail investors have no chance... Whose data is so impressive that it can catch up to the top 1 in contract volume? Looks like I need to pay more attention to app trends. It feels like the rankings are about to be reshuffled.

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