Binance’s Market Share Is Stuck Near One-Year Low
- Biggest crypto exchange struggling after regulatory actions
- Spot trading market share has been stuck at about 56%
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Binance is reeling under the impact of increased regulatory scrutiny, with the exchange platform’s market share languishing near a one-year low, according to data from research firm Kaiko.
Binance’s spot trading market share was little changed at 56% through June 19 from each of the two months prior, Kaiko data showed. That’s the lowest since August, when it fell to 53.7%, Kaiko said. The world’s largest cryptocurrency exchange suffered a blow after the US Securities and Exchange Commission filed a lawsuit against the firm and its founder Changpeng Zhao on June 5.