Binance, which struggles with legal processes 22 percentSpot trading share loss is pouring into other crypto exchanges.
With the period when FTX went bankrupt, a new process began for cryptocurrency exchanges. Merkle treeStock exchanges, which want to prove their existence with the method, entered into different struggles with the grip of US regulators.
The recent experience of crypto exchanges has led to serious changes in market dominance. Binance has reduced its market share from 73 percent to 51 percent in spot trading. This melted share OKXAnd HuobiIt has flown to many crypto exchanges, especially to many crypto exchanges.
Binance Loses Its Market Share To Other Exchanges
The CFTC’s radar and many of FUDs Taking center stage, Binance is bleeding out in spot trading market share. The cessation of the zero fee promotion was also effective in this decline of Binance.
kaikoAccording to an analysis by Binance’s The spot trade share suffered a serious loss of 22 percent. The stock market, which had a serious dominance in spot trade with a level of 73 percent, declined to 51 percent.
This fall of Binance has benefited other crypto exchanges. OKX increased its spot trading market share from 5 percent to 9 percent. In addition, Huobi attracted attention by increasing its market share from 2 percent to 10 percent. In addition, Kaiko conveyed that the share of South Korean platforms increased to 14 percent.
Communicating Kaiko’s data Bloomberg, Binance CEO of this data to CZ Said it could be a problem. Bloomberg, Binance from the USAdrew attention to the fact that he was confronted by the regulators.
