There are many crypto exchanges in the market and every exchange is trying to have bigger market share. It means they are trying to bring more users onboard and it's the key in this business. Binance was an exchange having bigger market share but after the issues in US this is dropped however still it's one of the leading and reliable crypto exchange in the market.
Now a days bybit exchange is doing well and it's getting more users on their exchange platform. More users means more business and this is the important part of revenue generation for any cryptocurrency exchange. Now after Binance, Bybit is the biggest crypto exchange and it has surpassed the Coinbase which is a popular exchange.
Bybit became the world’s second-largest crypto exchange, while the leading exchange, Binance, has lost some market share due to previous regulatory issues.
This is also the time when decentralised exchanges are growing but there is still a big demand for centralised exchanges. CeX is still a need as they offers more services and they're easy to use. I don't think that the need for CeX go away from market. Both types of exchanges are required and one can not replace another.
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