Binance, a major global cryptocurrency exchange, has seen its market share decline for the seventh consecutive month, with its spot market share dropping from 38.5% in August to 34.3% in September, according to a recent Bloomberg report. The exchange has also lost market share in the derivatives market, falling from 53.5% in August to 51.5% in September.

The decline is attributed to ongoing regulatory issues in the US, as well as Binance ending its zero-fee trading promotion for major trading pairs. The exchange has also exited key markets, such as Russia, where it sold its entire local business to the newly-launched CommEx exchange.

Binance's lost spot trading volume has been distributed among rival exchanges like HTX (formerly Huobi), Bybit, and DigiFinex, while OKX, Bybit, and Bitget have gained market share in derivatives.