EU Regulator: A Few Exchanges Dominate the Crypto Market
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The European Securities and Markets Authority (ESMA) has drawn attention to the concentrated nature of crypto trading and its potential risks to the broader financial system.

Based on its research, the ESMA has found that 90% of all crypto transactions are conducted through just 10 platforms, of which Binance, the largest, accounts for half of the market.

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This report, which was published on April 10, coincides with the upcoming implementation of the MiCA.

While this high concentration may result in greater efficiency, it also raises concerns about the potential consequences of a major platform failure or malfunction.

The ESMA has expressed concern that such a concentration could have widespread repercussions on the crypto ecosystem.

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