Spot trading volumes fell 17.2% to $1.27 trillion in September, their lowest level since June.
September saw a significant decline in centralized trading activity, with spot and derivatives volumes down 17% to a combined $4.34 trillion, according to the latest report from CCData.
However, market analysts are optimistic that the current slump will reverse in the coming months, thanks to potential catalysts such as increased market liquidity following the US Federal Reserveâs rate cuts, as well as the upcoming US presidential election, which is expected to boost trading activity.
The last quarter has traditionally been the strongest quarter for the crypto market, with the highest quarterly volumes in six of the past ten years.
Binance Market Share Continues to Decline
Binanceâs spot market share has fallen to 27%, its lowest since January 2021.
Similarly, Binanceâs derivatives trading volume has also fallen by 21% to $1.25 trillion, its lowest level since October 2023; Binance now holds 40.7% of the derivatives market, its lowest since September 2020. Overall, Binanceâs market share for both spot markets has fallen
