Binance spot market share drops for 7th consecutive month: Report

Major global cryptocurrency exchange Binance has reportedly continued to lose its market share in the middle of ongoing regulatory concerns in the United States.Binances spot market share fell for a seventh consecutive month in September 2023, Bloomberg reported on Oct. 5, citing analysis from cryptocurrency data provider CCDataAccording to the report, Binances area market share dropped from 38.5% in August to 34.3% in September. Source: BloombergApart from the spot market, Binance has likewise been losing market share in the derivatives market. The expert thinks the drop is likewise a result of Binance halting its zero-fee trading promo for significant trading pairs.Binances market share drop likewise came as Binance covers up services in some of its essential markets this year.

Thank you for reading this post, don't forget to subscribe!