Binance, the world’s largest cryptocurrency exchange by trading volume, has lost considerable market share recently. CCData estimates that Binance’s trading volume in the $2 trillion digital asset market declined to 36.6% in September.
This is the lowest the exchange has traded in the last four years, dropping from 42.7% at the beginning of 2023. The decline has been most pronounced in both the spot and the derivatives markets.
Binance’s market share in the spot market fell to 27%, the lowest since January of this year. Likewise, the derivatives market share fell to 40.7%, a market share low not seen in the last four years.
Binance has faced challenges, but the platform has recently marked a significant accomplishment. The exchange became the first centralized cryptocurrency trading platform to hit $100 trillion in trading volume lifetime. This achievement was made while competitors started taking more of the market share.
Binance Faces Market Share Loss Amid Legal
We współpracy z: https://www.thecoinrepublic.com/2024/10/04/binance-decoding-steepest-drop-in-trading-volume-since-2023/
