Binance, the world's largest cryptocurrency exchange, has seen its derivatives market share plunge to 40.7%, its lowest level since September 2020. This decline comes as the exchange's derivatives trading volume fell by 21% month-over-month to $1.25 trillion in September, according to data from CoinTelegraph. The decline in Binance's derivatives market share is likely due to a number of factors, including increased competition from other exchanges and regulatory scrutiny. In recent months, several other exchanges have launched their own derivatives platforms, offering traders more choice and lower fees. Additionally, Binance has faced increased regulatory scrutiny from around the world, which may have made some traders hesitant to use the exchange. Despite the decline in its derivatives market share, Binance remains the world's largest cryptocurrency exchange by trading volume. However, the exchange's dominance is likely to come under increasing pressure in the coming months as other exchanges continue to gain market share.