Binance’s Spot Crypto Market Share Shrinks for a Seventh Consecutive Month
- End of a fee promotion, regulatory woes seen hurting exchange
- Binance is facing lawsuits from the CFTC and the SEC in the US
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Binance’s spot market share fell for a seventh consecutive month as a dearth in volatility and lingering regulatory woes weighed on the largest cryptocurrency exchange.
The trading platform’s spot market share dropped to 34.3% in September from 38.5% the previous month, according to data compiled by researcher CCData. It was 55.2% in January. In derivatives, its market share fell to 51.5% from 53.5% in August, and 62.6% in January.