Binance Loses Market Share as Crypto Spot Trading Rebounds

Binance lost market share in September despite processing substantially more cryptocurrency spot trades, as competing exchanges captured a greater proportion of the market’s recovery. According to WuBlockchain’s October 13 report , trading volume across 14 monitored exchanges reached $696.7 billion, compared with $510.4 billion in August. The 36.5% monthly increase marked an acceleration from August’s 19% recovery. Every exchange in the sample recorded higher turnover, but the gains were uneven. Binance remained the largest platform by a considerable margin. Its declining share reflected faster growth elsewhere rather than an outright reduction in trading activity .

Source: Crypto News Flash