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.