Binance’s market dominance drops to 4 years low following regulatory challenges

Oct. 4, 2024 - Nairametrics

Binance the largest crypto exchange in the world has witnessed its market share shrink to a 4-year low following various regulatory hurdles in different jurisdictions. Binance spot trading volume dipped by more than 20% last month leaving with a meager 27% share of the spot market.

These new numbers on trading volumes and market share marked the lowest level of Market Dominance for Binance since 2020. In derivatives trading volumes, Binance held nearly 41% market share in September.

Binance legal tussles are obviously taking a toll on its global market share as revealed by the CC data report...