Cryptocurrencies
Binance’s Crypto Market Share Drops to Lowest Level in Four Years
- Overall market share fell to 36.6% last month, CCData says
- Binance saw the most severe share drop among top exchanges
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Binance’s rehabilitative efforts appear to be slow to take root, with the largest crypto platform’s share of trading volume in the roughly $2 trillion digital-asset market falling in September to the lowest level in four years.
The market share of the world’s biggest crypto exchange shrunk to 36.6% last month, down from 42.7% at the start of the year, according to researcher CCData. Binance’s 27% share of the spot market is the least since January 2021, while it accounts for 40.7% of derivatives trading, also the lowest in four years.