Binances Declining Market Share Sparks Regulatory Woes and Exchanges Rise

By Lola Coin Jun 26, 202360Views

, ,

Binance, the world’s largest crypto exchange, has experienced a decline in market share due to regulatory issues and its exit from various jurisdictions. Its market share dropped from 65.9% in January to 55.9% in June 2023, according to Bloomberg. Data research firm Kaiko noted that Binance’s market share is near its yearly lows, reaching a low of 53.7% in August 2022. Coinbase, the second-largest exchange, also saw a decline in market share from 7.6% to 6.8% due to regulatory battles. On the other hand, OKX, Kraken, Huobi, and 16 other exchanges experienced an increase in market share during this period. Binance has faced regulatory scrutiny from the US CFTC and the SEC, as well as challenges in other countries such as Australia, Canada, Nigeria, Netherlands, and Belgium. Despite these challenges, Binance still remains a dominant player in the crypto exchange market with over $55 billion in assets.

Continue reading on Beincrypto.com

Read Disclaimer

This content is aimed at sharing knowledge, it's not a direct proposal to transact, nor a prompt to engage in offers. Lolacoin.org doesn't provide expert advice regarding finance, tax, or legal matters. Caveat emptor applies when you utilize any products, services, or materials described in this post. In every interpretation of the law, either directly or by virtue of any negligence, neither our team nor the poster bears responsibility for any detriment or loss resulting. Dive into the details on Critical Disclaimers and Risk Disclosures.