Big news from the trading world – Crypto.com has claimed the top spot for USD-supported spot crypto trading volume in July, marking the first time in over two years. With a staggering 38.5% market share, Crypto.com outpaced all other exchanges, including Coinbase, which came in second with a 35.8% share.
Giuseppe Giuliani, managing director of Crypto.com Exchange, attributes this impressive growth to the steady acquisition of new clients, including large institutions and advanced retail traders. Over the past 18 months, Crypto.com has seen its market share grow incrementally each month, thanks to their focus on bringing in new users to the platform.
The resurgence of Crypto.com might be signaling a broader trend where retail investors are re-entering the crypto space or shifting their preferences among exchanges. This shift has likely been fueled by Crypto.com’s aggressive marketing strategies, such as becoming the first crypto advertiser on the Sphere and securing naming rights for a major sports stadium. Their efforts have clearly paid off, as they now lead in North American-based customer exchange volumes, recording a whopping $68.9 billion in July 2024.
The approval of spot bitcoin and ether ETFs in the U.S. has also played a crucial role in boosting Crypto.com’s standing. Traditional institutions have shown strong interest and made significant inflows into the exchange, contributing to its dominant position.
It’s an exciting time for Crypto.com and the broader crypto community. The exchange’s growth not only highlights its strengths but also indicates a potential shift in the market dynamics that could benefit traders and investors alike.
