Trading volume on centralized exchanges hit a four-year low, and Binance’s market share dropped to 43% for three consecutive months

Spot and derivatives trading volumes fell 15.7% in May from the previous month, marking the second consecutive month of shrinking cryptocurrency trading activity, according to a June 7 report from crypto analytics firm CCData. While the data is only as of the end of May, it does not take into account any impact that the recent SEC lawsuits against Coinbase or Binance may have. CCData shows that Binance has seen the steepest decline in trading volume among all major companies. In May, Binance gave up more total market share, falling from a peak of 57% in February to just 43% overall.

CZ once stated this, hoping that more competitors will grow together and build for web3! #crypto2023