On October 7th, according to the CCData report, Binance's market share fell to 36.6%, the lowest point in four years. Since March this year, Binance's market share has continued to decline as global regulators have increased their scrutiny.
Earlier this year, Binance had a market share of 42.7%, which decreased significantly in a few months. Binance's cash market share also dropped to just 27% of trading volume, the lowest level since January 2021. Binance faced a number of significant regulatory challenges over the past year, eventually settling with the Department of Justice over sanctions violations and paying a $4 billion fine. Following these issues, Binance's co-founder and former CEOCZ announced his resignation due to legal issues, including a four-month jail sentence.
Report: Binance market share declines sharply amid regulatory pressure and rising competitors
2024-10-07 05:56:26
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