#Binance Market Share Hits 4-Year Low
Binance, one of the world’s largest cryptocurrency exchanges, has seen its lead over competitors shrink to its narrowest point in four years, according to a recent report by CCData.
In September, Binance accounted for just 36.6% of the total trading volume across centralized exchanges, including both spot and derivatives trading.
This marks the exchange’s worst performance since September 2020.
Spot trading on Binance dropped significantly, with a 23% decline from August.
This drop caused Binance's spot market share to fall to 27%, its lowest level since January 2021.
The platform’s derivatives market share also faced a sharp drop, falling by 21% to 40.7%, which is the lowest figure recorded since September 2020.
This comes as competitors (Crypto.com, #Bybit , #Bitget , #P2B ) rapidly gain market share, taking advantage of Binance’s recent challenges.
