2026-01-02 09:27:13

Interesting phenomenon. According to on-chain data tracking, since mid-December of this year, the trading market has experienced a significant reshuffle. Dexter, this facilitator, is rapidly gaining market share and has gradually overtaken the veteran Coinbase. Currently, on the x402 chain, it has surpassed Coinbase in daily average transaction count, with a market share reaching about 50%.

In the entire ecosystem, four leading trading facilitators have now surpassed a total of ten million transactions. In order from largest to smallest, they are Coinbase, Dexter, PayAI, and DayDreams. This change in ranking is quite noteworthy — Dexter's rise from a latecomer to its current position indicates that the market's acceptance of new trading models or service experiences is increasing.

This may reflect changing user demands for trading convenience, costs, or certain new features. The flow of market share often drives the upgrade and iteration of the entire sector.

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FloorSweeper

· 13h ago

Dexter is really fierce this time, with a 50% market share directly crushing Coinbase. The old players probably can't keep up. Coinbase is still relying on its legacy, while Dexter is dominating the market with its user experience. This is the new order, right? Users have long wanted to switch, just missing a more aggressive competitor. Honestly, it's still about being cheap and easy to use. The market is that straightforward. PayAI and DayDreams are also rising, it feels like the industry is about to go through a reset. I used to think Coinbase was the iron throne, but now it seems just so-so. Dexter went from being unknown to holding 50%, that speed is insane. Market share is shifting so quickly, indicating everyone is looking for an exit, not truly loyal to any one platform. The new model is the real deal; users vote with their feet. It feels like Dexter has something special, with a late start but quickly catching up.

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Layer3Dreamer

· 01-04 22:21

theoretically speaking, if we model this as a state transition problem... dexter's market capture velocity suggests some kind of cross-rollup arbitrage optimization happening under the hood. reminds me of vitalik's interoperability vector paper—the facilitator that minimizes bridge latency wins.

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SybilAttackVictim

· 01-04 11:01

Oh my God, Dexter is about to make a comeback, directly taking away half of Coinbase's market share? Wait, is this real? The data is so impressive? I believe Coinbase is being suppressed, but a 50% market share... feels a bit outrageous. Are old platforms so easily eliminated, or is the new model truly exceptional? There must be a reason behind this reshuffle, it's not just about UX. PayAI and DayDreams, these three have all surpassed ten million, so they are all competing for Coinbase's market share. Waiting to see what happens next, Coinbase really messed up this time.

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gas_fee_therapist

· 01-02 09:56

Does Dexter directly eat up half of Coinbase's market share in just half a year? Crazy, new things do have a market after all. --- Wait, are these numbers reversed... How is Coinbase still ranked first? --- A 50% market share just shows that established exchanges need to wake up. --- I haven't heard of PayAI and DayDreams. The reshuffle is too fast, can't keep up with the pace. --- It's really about UX and fees. Whoever is cheaper wins, simple and straightforward. --- What makes Dexter so aggressive? Is there big capital backing it? --- This is what the market should look like—survival of the fittest. --- I'm optimistic about Dexter, but don't overestimate it. Overtaking doesn't mean stability. --- A transaction volume of ten million sounds huge, but who knows what the actual GMV is?

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ForumLurker

· 01-02 09:47

Dexter is taking off directly, Coinbase really should start to panic, right? Dexter's move this time is quite impressive, users are just eating it up. Wait, is it really at 50% market share? How competitive does that make it... By the way, new forces knocking out the old aristocrats—this kind of drama has been seen too many times in the crypto world. Dexter's UX is indeed well-polished, no wonder users are willing to jump ship. Another month with millions of new users added, this growth rate is truly crazy. Why is there no news from PayAI and DayDreams? Feeling a bit squeezed out. The Matthew effect in the crypto circle is becoming more and more obvious; when will the top monopolies end? Market share is being reshuffled so quickly, indicating that users' expectations for experience are really high. Coinbase's moat isn't as strong as it seems.

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LayerZeroHero

· 01-02 09:46

Data speaks for itself. Dexter is definitely doing something right this time... Need to take a deeper look into the protocol architecture.

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CryptoCross-TalkClub

· 01-02 09:42

Laughing out loud, Coinbase has been overtaken? This reshuffle is more exciting than my crypto trading losses. Dexter truly speaks with strength, unlike some projects that only tell stories. Old brands can't withstand the impact of newcomers; that's how the crypto world is—today's king might fall behind tomorrow. Users buy into this—cheap, fast, good experience; everything else is superficial. The real truth behind this ranking change is: whoever meets the needs wins; it's not that complicated. A reasonable competitive ecosystem upgrade—that's the development direction the crypto world should be looking at.

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