đ Crypto News: Binance's Trading Activity Sharply Decreased in September!
đ According to a report by CCData, Binance's derivatives trading volume fell 21% to $1.25 trillion, its lowest since October 2023. Binance's derivatives market share also fell to 40.7%, its lowest since September 2020.
đ Spot trading was no better, falling 22.9% to $344 billion, its lowest since November 2023. Binance's spot market share fell to 27%, its lowest since January 2021.
đ Binance's combined spot and derivatives market share fell to 36.6%, its lowest since September 2020. However, Binance still leads the global spot trading market.
đ„ Meanwhile, Crypto.com continued its strong growth, with spot and derivatives trading volumes rising 40.2% and 42.8% in September, reaching $134 billion and $149 billion, respectively. Crypto.com is now the fourth-largest exchange by volume.
đ Total trading volume on centralized exchanges fell 17% to $4.34 trillion, its lowest level since June. According to CCData, the decline is in line with historical seasonal trends.
đ Analysts expect trading activity to recover in the coming months as the US Federal Reserve steps up rate cuts, which is expected to spur capital flows into riskier assets, including cryptocurrencies.
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