Binance’s market share in non-dollar exchanges drops by 25%
Binance’s market share in non -dollar crypto exchanges has declined by nearly 25% since the beginning of 2023. According to data, the projected market share for Binance in September 2023 will be 50.76%. Market share fell sharply in April before briefly recovering in June. It has since continued contracting. Source: The Block “Binance finished 2022 with a 75% market share among a group of platforms that also includes major Asian players like Upbit, Huobi, Bybit and OKX — but that figure declined steadily throughout the year, hitting 54% in August.” The Block In March 2023, Binance’s trading volume was $556.36 billion but fell to $192.12 billion by August. Analysts predict trading volumes to contract in September. Binance’s removal of zero fees for popular trading pairs may negatively impact activity and, thus, volume. You might also like: Binance’s Bitcoin volume plummets after end of zero-commission trading With Bi...