{"id":13528,"date":"2023-10-06T13:29:40","date_gmt":"2023-10-06T13:29:40","guid":{"rendered":"https:\/\/www.cryptoheretostay.com\/?p=13528"},"modified":"2023-10-06T13:29:42","modified_gmt":"2023-10-06T13:29:42","slug":"binance-spot-market-share-drops-for-7th-consecutive-month-report","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=13528","title":{"rendered":"Binance spot market share drops for 7th consecutive month: Report"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Major global cryptocurrency exchange Binance has reportedly continued to lose its market share amid ongoing regulatory issues in the United States.<\/p>\n<p>Binance\u2019s spot market share fell for a seventh consecutive month in September 2023, Bloomberg reported on Oct. 5, citing analysis from cryptocurrency data provider CCData.<\/p>\n<p>According to the report, Binance\u2019s spot market share dropped from 38.5% in August to 34.3% in September. In January 2023, Binance\u2019s spot market share accounted for as much as 55.2%.<\/p>\n<p><em>Binance\u2019s global spot market share percentage chart year-to-date. Source: Bloomberg<\/em><\/p>\n<p>Apart from the spot market, Binance has also been losing market share in the derivatives market. According to the report, Binance\u2019s derivatives market share tumbled from 53.5% in August to 51.5% in September. In January, the exchange\u2019s market dominance in the derivatives market accounted for more than 62%.<\/p>\n<p>According to CCData research analyst Jacob Joseph, Binance\u2019s regulatory challenges in the U.S. are not the only reason the exchange has lost its market share. The analyst believes the drop is also due to Binance halting its zero-fee trading promotion for major trading pairs.<\/p>\n<p>Binance\u2019s market share drop also came as Binance wraps up services in some of its key markets this year. In September, Binance announced its full exit from Russia, selling its entire local business to the newly launched CommEx exchange,\u00a0founded by undisclosed entities. Russia was one of the biggest markets for Binance, with Russian visitors accounting for nearly 7% of the platform\u2019s traffic.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>What bear market? These crypto websites see traffic rising in 2023<\/em><\/strong><\/p>\n<p>Binance introduced\u00a0changes to its trading fees in early September, re-applying a regular taker fee based on the user\u2019s VIP level. For example, Binance started charging a 0.1% taker fee on spot and margin trades from regular users.<\/p>\n<p>According to the report, Binance\u2019s lost spot trading volume has been distributed among exchanges like HTX (formerly Huobi), Bybit and DigiFinex. Rival exchanges like OKX, Bybit and Bitget have reportedly also picked up market share in derivatives.<\/p>\n<p><strong><em>Magazine: <\/em><\/strong><strong><em>Minecraft bans Bitcoin P2E, iPhone 15 &amp; crypto gaming, Formula E<\/em><\/strong><\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/crypto-binance-spot-market-share-drops-7th-month\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major global cryptocurrency exchange Binance has reportedly continued to lose its market share amid ongoing regulatory issues in the United States. Binance\u2019s spot market share fell for a seventh consecutive month in September 2023, Bloomberg reported on Oct. 5, citing analysis from cryptocurrency data provider CCData. According to the report, Binance\u2019s spot market share dropped [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13529,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-13528","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13528"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13528\/revisions"}],"predecessor-version":[{"id":13530,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13528\/revisions\/13530"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/13529"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}