Binance Loses Ground Amid Regulatory Pressure

The world’s leading cryptocurrency exchange Binance is losing the lead over competitors as ramping regulatory pressure curbs growth. According to an Oct. 3 report by data provider CCData, in September Binance processed just 36.6% of centralized crypto exchange volume for spot and derivatives. This means that Binance had only a 22% market share lead over its closest competitor OKX. Binance’s spot trading volume fell by over 20% over the last month when the exchange held only 27% of the spot market.

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