BTC has been as stable as an old dog lately, with nothing to look at. The price has been fluctuating within a certain range, which makes me more interested in the competitive landscape between exchanges. After digging through the data, the market share of Binance spot has reached a new high in nearly 12 months. This growth is achieved against the backdrop of a decline in overall market trading activity, indicating that users are mainly using Binance. There hasn't been much change in the trading volume of BTC and ETH, with Binance currently accounting for approximately 45.6% of BTC spot trading volume, the highest level since July 2024 and close to the historical high of 47.7% in June 2024. After Bybit was stolen, I felt like I fell behind and suddenly lost my voice volume, which is also quite a pity.