Crypto.com has increased its USD support exchange volume market share to 31%, recovering towards its April 2022 peak of 44%.
Crypto adoption surged in early 2021, with institutions like Tesla and Mastercard embracing cryptocurrency. Despite a slowdown in the second half of the year, adoption rates stayed significantly higher than the previous year’s levels, resulting in sustainable growth.
This growth has come at the expense of smaller U.S. exchanges, whose combined market share fell from 14% to 12%. Leading competitors Coinbase and Kraken hold 45% and 17% of the market share, respectively.
Crypto.com’s market share growth is linked to increased retail trader activity and strong user retention, with trading volumes steady at around $30 billion monthly.
High-profile marketing efforts, such as a global partnership with Formula 1 and securing naming rights to the Crypto.com Arena in Los Angeles, have boosted brand recognition.
These efforts likely contributed to the exchange’s market share growth. Despite these gains, Crypto.com’s native coin, CRO, is down 9.4% in 2024.
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