First Mover Americas: Binance’s Waning Market Share

Binance, the world’s largest cryptocurrency exchange by market volume, has seen its spot market share gradually decline over the year as the company faced an array of charges from regulators that eventually claimed its founder and CEO, Changpeng “CZ” Zhao. According to numbers provided by CCData, Binance’s market share so far in December was just 30.1% versus 55% at the start of the year. From January to September, the exchange’s monthly spot volumes declined by over 70% to $114 billion. CCData notes that the trading volumes have been increasing since September even as its market share continues to slide.

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• Source: https://www.coindesk.com/markets/2023/12/12/first-mover-americas-binances-waning-market-share/?utm_medium=referral&utm_source=rss&utm_campaign=headlines