Coinspeaker
Binance Loses Global Crypto Trading Market Share as Regulations and Competition Tighten

Major cryptocurrency exchange Binance is losing its market share in global crypto trading due to a combination of factors, including evolving crypto regulations. The exchange has also reduced its efforts at cost-effective trading, a marketing scheme it no longer runs.

Binance’s Market Share Is Falling

According to research firm Kaiko, Binance’s share of Bitcoin trading fell over the past year from 81.3% to 55.3%. The exchange’s altcoin market share also fell from 58% to 50.5%. Kaiko analysts wrote in a recent note that offshore markets are now less concentrated, adding that smaller local exchanges are also “gaining momentum,” giving large companies like Binance a hard time. In addition, Kaiko believes that a major reason for the reduction is the company’s decision to discontinue an offer that allowed customers to make trades for free.

Outside the United States, other exchanges are expanding their influences and scooping up increasing ...