According to a report by CryptoCompare, trading volume on centralized exchanges will drop by 46% during 2022, CoinDesk reported. Among all exchanges, Binance’s market share reached 66.7% in December, compared with 48.7% at the beginning of the year, but the spot trading volume on Binance fell by 45.3% to $5.29 trillion. Of the 11 exchanges tracked, only Binance and Bybit have seen market share gains in each quarter through 2022, the report said. The second largest market share in December was Coinbase, with a market share of 8.2%, compared with 10.1% at the beginning of the year. Following Coinbase is OKX, which had a market share of 5.9% in December and 10.7% in early 2022.