š **Crypto Market Update: Binance Takes a Breather, Crypto.com on the Rise!**
- Binance saw a 21% drop in derivatives trading in September, hitting $1.25 trillion ā the lowest since October 2023. Spot trading also dipped 22.9% to $344 billion, marking the lowest since November 2023.
- Despite the slump, Binance still leads the global spot trade market among centralized exchanges (CEXs).
- Meanwhile, Crypto.com is flexing its muscles with a 40.2% rise in spot trading and a 42.8% boost in derivatives, making it the fourth-largest exchange by volume.
- Overall, CEXs experienced a 17% drop in combined trading volume, aligning with typical late-summer trends.
- Analysts predict a comeback as the US Federal Reserve's rate cuts could inject fresh liquidity into the market. š
Stay tuned for more market twists and turns!