around 28% of the total market. However, Kaiko’s latest report shows that Binance’s market share has now declined to a one-year low of 24.4%.
This drop in market share can be attributed to the growing regulatory pressure faced by Binance. The US SEC’s lawsuit against Binance.US has raised concerns among investors and traders, impacting the exchange’s reputation and market position. As a result, users may be shifting their trading activities to other platforms that are perceived to have a lower regulatory risk.
Binance’s declining market share also reflects the overall trend of increased regulatory scrutiny on the cryptocurrency industry. Regulators worldwide are tightening their grip on exchanges and other crypto businesses to ensure compliance with existing laws and regulations.
In conclusion, Binance’s market share has reached a one-year low due to the recent regulatory actions against the exchange, signaling the impact of increased scrutiny on the cryptocurrency industry as a whole.
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