Report: Coinbase Expands Market Share Beyond US Trading Hours Amid Binance Controversy

Report: Coinbase Expands Market Share Beyond US Trading Hours Amid Binance Controversy


Binance Settlement Boosts Coinbase’s Market Share, Says Report

Following Binance’s recent multi-billion-dollar settlement with US regulators, Coinbase has experienced an increase in its market share, according to on-chain data analytics firm Kaiko Research. The settlement between Binance and the US Department of Justice (DoJ), which amounted to $4.3 billion, resulted in legal challenges for the exchange. As a result, other crypto exchanges, such as Coinbase and Bybit, have seen changes in their trading volumes. Coinbase’s market share grew significantly during European trading hours and the beginning of the trading day in eastern Asia. On the other hand, Bybit saw market share growth throughout the entire day. Despite these changes, Binance remains the leader in liquidity for both Bitcoin and altcoins.

Positive Outlook for the Crypto Community

Industry leaders view Binance’s settlement with the DoJ as a positive development for the crypto community. Although it has faced legal challenges, Binance has maintained its liquidity across all cryptocurrencies. This settlement has led to increased market share for other exchanges like Coinbase and Bybit, indicating potential opportunities for growth and competition within the industry.

Hot Take: Binance Settlement Spurs Market Share Shifts

Stay ahead in the crypto world with our newsletter!

Subscribe now for the latest updates, insights, and trends in the cryptocurrency market.

The recent settlement between Binance and US regulators has had ripple effects across the crypto market. While Binance faces legal hurdles, Coinbase and Bybit have seized this opportunity to gain market share. This shift indicates a dynamic landscape within the cryptocurrency industry and highlights the potential for exchanges to capitalize on regulatory developments. As competition intensifies, traders can expect increased options and liquidity across various platforms. Ultimately, this settlement serves as a catalyst for change and innovation in the crypto community.

Author – Contributor at | Website

Coinan Porter stands as a notable crypto analyst, accomplished researcher, and adept editor, carving a significant niche in the realm of cryptocurrency. As a skilled crypto analyst and researcher, Coinan’s insights delve deep into the intricacies of digital assets, resonating with a wide audience. His analytical prowess is complemented by his editorial finesse, allowing him to transform complex crypto information into digestible formats.

Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. Lolacoin.org does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.
Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!

Email me the hottest Crypto news!

You may also like

Share via
Share via