Who is Binance's biggest competitor?

In the rapidly evolving world of cryptocurrency exchanges, who stands as Binance's biggest competitor? With the ever-increasing popularity of digital assets and the associated trading platforms, the competition in this sector is becoming increasingly fierce. Given Binance's dominant position in the market, it's intriguing to ponder which exchange has the potential to challenge its throne. Is it another well-established player like Coinbase or Kraken, or perhaps a newer entrant with innovative features and a disruptive business model? Whatever the case may be, it's certainly an exciting question to consider.