Binance.US market share falls to a three-year low

In March, the exchange volume was $17,6 million, in April was $15,2 billion, and in May was $5,9 billion

15.06.2023 - 09:15

198

2 min

Binance.US's market share in the U.S. has fallen to the lowest level in two years.

Binance.US' declining market share, according to the crypto data tracker Kaiko.

The exchange's market share in the country is 2.7%, according to the crypto data firm Kaiko. Last week, the Securities and Exchange Commission sued Binance and its affiliates over alleged legal violations.

Binance.US exchange volume had been decreasing steadily over the past three months, The Block data shows. Binance.US saw $17.6 million of exchange volume in March, $15.2 billion in April and $5.9 billion in May.

In a broader comparison, Binance.US has also been squeezed out of market share from all exchanges with USD support. It had 16.1% of spot trading trading volumes among other USD-supporting exchanges in April, but that figure dwindled to 8.5% in May. It's currently around 5.4%, although data for June is incomplete.

This material is taken from the website https://www.theblock.co.

Author: