Bitcoin Exchange Binance’s Market Share Continues To Decrease! What awaits Binance?

world’s largest cryptocurrency stock market Binance has been under regulatory pressure from the SEC and various countries lately.

This pressure caused investors to leave Binance, which reduced the market share of the exchange.

In this context, the research company kaikoIn its report, Binance’s market share fell to a one-year low amid increasing regulatory scrutiny.

In its report, Kaiko said that Binance’s spot trading market share fell to 56% in June compared to the previous two months.

Kaiko stated that this level is the lowest level since August 2022, when it fell to 53.7%. The U.S. Commodity Futures Trading Commission (CFTC) He noted that after filing a lawsuit before the SEC, its daily market share dropped to as low as 47% on April 6.

“Besides declining market share, pressure on crypto exchanges like Binance has also increased after major financial companies like BlackRock applied for permission to start offering spot Bitcoin ETFs to attract investors who choose to work with regulated institutions.”

Evaluating the increasing regulatory pressure and the decreasing market share of Binance Alex Svanevik, CEO of Nansen He told Bloomberg:

“There is increasing pressure on cryptocurrency exchanges like Binance. This causes Binance’s market share to decrease.

At this point, centralized exchanges like Binance will find themselves in a wedge between decentralized exchanges and traditional financial players entering the market.”

Apart from Alex Svanevik, Blockchain consultant Cici Lu, founder of Venn Link Partners, also told Bloomberg. “Regulatory risk applies to all centralized exchanges. But Binance bears the brunt of regulatory actions. Binance’s regaining market share while meeting compliance requirements indicates challenging times ahead for the exchange.” said.

*Not investment advice.