Data: Binance's market share falls to a four-year low

2024-10-07 14:21:34

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ChainCatcher news, according to the latest report from CCData, Binance's market share has fallen to 36.6%, marking a four-year low. The decline in Binance's market share is mainly influenced by two factors: first, the increasing scrutiny from global regulators on Binance; second, the rapid rise of competitors.

Since March 2024, Binance's market share has been continuously declining. Earlier this year, Binance's market share was as high as 42.7%, significantly decreasing within a few months. Additionally, Binance's spot trading market share has dropped to 27%, the lowest point since January 2021.

Over the past year, Binance has faced significant regulatory challenges. In 2024, Binance reached a settlement with the U.S. Department of Justice for violating sanctions, paying a fine of $4 billion. Subsequently, Binance co-founder and former CEO Changpeng Zhao resigned due to legal issues and was sentenced to four months in prison.

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