{"id":17524,"date":"2024-10-04T14:09:10","date_gmt":"2024-10-04T11:09:10","guid":{"rendered":"https:\/\/forklog.com\/en\/binances-market-share-hits-four-year-low\/"},"modified":"2024-10-04T14:09:10","modified_gmt":"2024-10-04T11:09:10","slug":"binances-market-share-hits-four-year-low","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binances-market-share-hits-four-year-low\/","title":{"rendered":"Binance’s Market Share Hits Four-Year Low"},"content":{"rendered":"

Binance’s share of the total trading volume in the spot and derivatives markets within the centralized cryptocurrency exchange segment has fallen to 36.6%, according to a report<\/a> by CCData.<\/p>\n

This figure marks the platform’s lowest since September 2020.<\/p>\n

Last month, Binance’s spot trading volume decreased by 23% compared to August, reducing the exchange’s share to 27%. For derivatives products, the decline was 21%, leaving the platform with 40.7% of the total in the CEX<\/span> segment.<\/p>\n

Crypto.com emerged as one of the beneficiaries of Binance’s declining volumes. Its overall figure increased by more than 40% month-on-month. Since the beginning of the year, the exchange has recorded the largest growth in spot trading, raising its market share to 10.5%.<\/p>\n

\"6CK4CY64DJBURMSSELGTKJPAOY\"
Changes in CEX market shares since the beginning of the year. Data: CCData.<\/figcaption><\/figure>\n

In September, total trading volumes in the segment fell by 17% to $4.34 trillion, marking the lowest level since June.<\/p>\n

Analysts noted that the first month of autumn traditionally signals the end of the low trading activity season.<\/p>\n

\n

\u201cWith catalysts such as increased market liquidity following the Fed<\/span>‘s interest rate cut and the upcoming US elections, activity on centralized exchanges is expected to rise in the coming months,\u201d CCData predicted.<\/p>\n<\/blockquote>\n

On September 27, Binance co-founder and former CEO Changpeng Zhao (CZ) was released after serving a four-month sentence, which the court imposed in April<\/a>. Earlier in the month, the company permanently barred CZ from management.<\/p>\n

In one of his first tweets<\/a> after his release, Zhao noted that \u201cthe exchange seems to be managing without his involvement.\u201d<\/p>\n

In November 2023, Binance settled claims with the US Department of Justice, agreeing to pay $4.3 billion. CZ’s personal fine amounted to $50 million.<\/p>\n

The lawsuit by the SEC<\/span> against the exchange is ongoing.<\/p>\n","protected":false},"excerpt":{"rendered":"

Binance’s share of the total trading volume in the spot and derivatives markets within the centralized cryptocurrency exchange segment has fallen to 36.6%, according to a report by CCData. This figure marks the platform’s lowest since September 2020. Last month, Binance’s spot trading volume decreased by 23% compared to August, reducing the exchange’s share to […]<\/p>\n","protected":false},"author":1,"featured_media":17523,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1166,958],"class_list":["post-17524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-centralized-exchanges-cex","tag-trading-volume"],"aioseo_notices":[],"amp_enabled":true,"views":"45","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=17524"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17524\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/17523"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=17524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=17524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=17524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}