Binance's Market Share Declines for 7th Straight Month Amid Regulatory Challenges and Exiting Russia
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Binance's spot market share dropped from 38.5% in August to 34.3% in September, marking the 7th consecutive monthly decline.
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Binance's derivatives market share also fell from 53.5% in August to 51.5% in September.
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Binance's regulatory challenges in the U.S. and halting of its zero-fee trading promotion contributed to the declines.
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Binance exited Russia in September, which was one of its biggest markets.
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Lost spot volume went to exchanges like HTX, Bybit and DigiFinex; OKX, Bybit and Bitget gained derivatives share.
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