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# Crypto Perpetual Agreement Trading Volume Soars to $58 Trillion in 2024, Binance’s Market Dominance Declines
In 2024, the crypto perpetual agreement trading volume neared an astounding $59 trillion, but Binance saw a 20% decrease in market dominance in December.
According to CoinGecko information, crypto perpetual agreement trading volume attained a record peak in 2024, greatly surpassing anticipations. The top 10 centralized exchanges observed a combined volume of $58.5 trillion, over twice the $28 trillion registered in 2023.
However, despite the overall market expansion, crypto exchange titan Binance watched its market dominance diminish from 43% in January to 34% in December. The report reveals that in the fourth quarter of 2024, the top 10 centralized perpetual agreement exchanges registered a volume of $21.2 trillion, a 79.6% surge compared to the $11.8 trillion in the third quarter.
While Binance persists as the biggest player in the field, rivals are accumulating impetus. Information reveals that Coinbase International’s trading volume more than quadrupled, making it into the top ten for the first time in December.
In the sphere of decentralized perpetual agreement exchanges (DEXs), trading volume similarly escalated to $1.5 trillion in 2024, a nearly 140% rise compared to the prior year. Crypto exchange Hyperliquid seized over 50% of the DEX market dominance in the fourth quarter, attaining over 65% in December.
> “Hyperliquid was a major highlight in Q4, thanks to its successful HYPE airdrop. It successfully captured over 55% of the market share in Q4, peaking at 66% in December.”
>
> CoinGecko
Meanwhile, dYdX’s market dominance declined from 73% at the beginning of 2023 to 7% at the end of 2024. Bitcoin persists as the primary asset in perpetual agreement trading, even though its share diminished by 20% throughout 2024, from 43% in January to 34% in December. Three Justifications Why the Cost of Shiba Inu Coin Might Ascend by 60%
