What’s Behind the Shift in Crypto Exchange Preferences?

I recently came across CryptoQuant’s research and found it interesting. U.S.-based entities dominate the Bitcoin market, holding 65% more reserves than non-U.S. entities. Additionally, retail demand for Bitcoin has increased by 13% in the last month, indicating renewed market interest. It’s clear that the market is evolving, with a strong focus still on Bitcoin, Ethereum, and Layer 2 solutions, alongside a growing interest in AI and blockchain integration.

What stood out to me was how exchanges play a significant role. Binance leads globally, with many users reporting it as their primary exchange. However, in North America, Coinbase takes the lead. Full-time traders generally prefer exchanges like Binance, Bitget, Bybit, and OKX, with Bitget attracting new users for its focus on features such as gas-free deposits and a wide variety of token listings. In contrast, platforms like Coinbase and Kraken tend to attract more casual, part-time traders. It’s clear that exchanges are adapting to cater to different types of users based on their specific needs and preferences.