Comment on Binance loses ground amid regulatory pressure

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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