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In a comprehensive analysis of the cryptocurrency market, the European Securities and Markets Authority ( ESMA ) has revealed the highly concentrated nature of crypto trading and the potential risks it poses to the broader financial ecosystem. The report, released on Wednesday, comes as the European Union prepares to implement the world's first extensive regulatory framework for cryptoassets, dubbed MiCA. EU Watchdog Raises Concern over Crypto Market Concentration ESMA's findings reveal that a mere ten exchanges oversee approximately 90% of all cryptocurrency trades, with Binance leading the pack with an astonishing 50% share in the market. The recent Finance Magnates Intelligence study confirms the market watchdog data, indicating an increase in trading volumes of the top 10 crypto exchanges . While this level of concentration is potentially beneficial from an efficiency standpoint, it raises signi
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