{"id":323177,"date":"2023-06-26T15:00:32","date_gmt":"2023-06-26T09:30:32","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=323177"},"modified":"2024-01-26T13:16:02","modified_gmt":"2024-01-26T07:46:02","slug":"binance-market-share-at-1-year-low-kaiko","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/binance-market-share-at-1-year-low-kaiko\/","title":{"rendered":"Binance market share at 1-year low: Kaiko"},"content":{"rendered":"<ul>\n<li><em>Binance\u2019s spot trading market share stood at 55.9% in June 2023, hitting a nearly one-year low.<\/em><\/li>\n<li><em>The exchange was facing regulatory action not only in the U.S. but in countries such as France and Belgium as well.<\/em><\/li>\n<\/ul>\n<p>The market share of the world\u2019s leading cryptocurrency platform, Binance [BNB], was <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-06-26\/binance-s-market-share-is-stuck-near-one-year-low-kaiko-data\">reeling under the pressure<\/a> of increased regulatory scrutiny not only in the United States, but across several countries.<\/p>\n<p>According to data from research firm Kaiko, Binance\u2019s spot trading market share stood at 55.9% in June 2023, hitting near a one-year low. The figure is nearly the same as the last two months.<\/p>\n<p>But the slight dip this month made it hit the lowest point since August 2022, when it was at 53.7%.<\/p>\n<p>The trading platform was facing enforcement action at the hands of the U.S. Securities and Exchange Commission (SEC) as the agency filed a lawsuit against the firm and its founder Changpeng &#8220;CZ&#8221; Zhao early this month.<\/p>\n<p>In late March, another U.S. agency, the Commodity Futures Trading Commission (CFTC), also <a href=\"https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8680-23\">filed<\/a> a lawsuit against the firm.<\/p>\n<p>Binance\u2019s U.S. division lost almost all its market share after the lawsuits from the CFTC and the SEC, Kaiko\u2019s data shows.<\/p>\n<h4>Regulatory troubles across countries<\/h4>\n<p>Binance is also facing regulatory scrutiny in other countries, such as France and Belgium. While the former is <a href=\"http:\/\/de.fr\/pixels\/article\/2023\/06\/16\/binance-principale-plate-forme-mondiale-d-echange-de-cryptomonnaies-visee-par-une-enquete-en-france_6177876_4408996.html\">investigating<\/a> the exchange, the latter has <a href=\"https:\/\/www.fsma.be\/en\/news\/fsma-orders-binance-cease-immediately-all-offers-virtual-currency-services-belgium\">asked<\/a> Binance to stop its operations in the jurisdiction.<\/p>\n<p>Meanwhile, established TradFi institutions such as <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1980994\/000143774923017574\/bit20230608_s1.htm\">BlackRock<\/a> and <a href=\"https:\/\/www.sec.gov\/ix?doc=\/Archives\/edgar\/data\/1850391\/000121465923008647\/p620230s1a2.htm\">Wisdomtree<\/a> have also applied to offer spot Bitcoin exchange-traded funds (BTC ETFs).<\/p>\n<p>Binance\u2019s market share hit low also when it <a href=\"https:\/\/www.binance.com\/en-IN\/support\/announcement\/updates-on-zero-fee-bitcoin-trading-busd-zero-maker-fee-promotion-be13a645cca643d28eab5b9b34f2dc36\">stopped<\/a> a zero-fee promotion in March. It has recently launched a new promotion offer for stablecoins, including True USD [TUSD], Binance USD [BUSD], Tether [USDT] and USD Coin [USDC], beginning 30 June.<\/p>\n<p>Despite its declining market share, Binance remained larger than all other cryptocurrency exchanges combined. It was the <a href=\"https:\/\/defillama.com\/protocol\/binance-cex\">largest holder<\/a> of customer tokens at press time, with $59.2 billion in reserves.<\/p>\n<p>Another major exchange Coinbase, against which the SEC <a href=\"https:\/\/www.sec.gov\/news\/press-release\/2023-102\">filed<\/a> a lawsuit just after it charged Binance, has seen its market share fall to 6.8% in June from 7.6% in January.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance&#8217;s market share hits near a one-year low as it reels under the pressure of regulatory scrutiny across countries.\u00a0<\/p>\n","protected":false},"author":70,"featured_media":323194,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[44,66,3,4,20],"tags":[],"class_list":["post-323177","post","type-post","status-publish","format-standard","has-post-thumbnail","category-global-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - 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