CoinVoice recently learned that according to the latest report from CCData, Binance's market share has dropped to 36.6%, the lowest level in four years. The decline in Binance's market share is mainly affected by two factors: one is the increasing scrutiny of Binance by global regulators; the other is the rapid rise of competitors.
Since March 2024, Binance’s market share has continued to decline. Binance’s market share, which was as high as 42.7% earlier this year, dropped significantly within a few months. Additionally, Binance spot trading market share fell to 27%, the lowest since January 2021.
Binance has faced significant regulatory challenges over the past year. In 2024, Binance settled with the U.S. Department of Justice for sanctions violations and paid a $4 billion fine. Subsequently, Binance co-founder and former CEO Changpeng Zhao resigned due to legal issues and was sentenced to four months in prison. [Original link]