The Binance spot trading volume hit a yearly low in Q2, and its market dominance is fading due to regulatory hurdles and rising competition.
Data shows Binance’s spot trading volume fell to a yearly low of $424.7 billion in Q2, marking a 22.7% decline.The data indicates that Binance’s spot trading volume reached a yearly low of $424.7 billion. This decline marks a 22.7% month-on-month decrease from $549.8 billion recorded in May 2024.
Also, although it saw an increase in market dominance from Q1 to Q2 of 2024, ending the first quarter with a 48.9% market share, it appears to be losing ground again. Historically, Binance’s market share was over 60% around 2022, but it has significantly declined over the subsequent years.journey in the industry has been marked by significant challenges, particularly concerning regulatory issues across various global jurisdictions. These regulatory hurdles have notably impacted its operations and competitive standing.
These setbacks have provided an opening for other exchanges like Coinbase and Bybit to erode some of the dominance the exchange once enjoyed.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Early Sunday collision on Highway 22 leaves 1 dead, 3 injuredOne person is dead and three others injured after a motor vehicle collision that took place early Sunday morning at the intersection of Highway 22 and Township Road 281 in Rocky View County.
Read more »
Out Of Sight, Out Of Mind: 22 Tricks To Hide The Eyesores In Your Home22 Genius hacks that will help you camouflage trouble spots in your home without breaking a sweat (or your budget).
Read more »
22 Genius Ways To Conceal The Things You Don't Want To See In Your Home22 Genius hacks that will help you camouflage trouble spots in your home without breaking a sweat (or your budget).
Read more »
22 Home Hacks To Help You Hide Unsightly Corners22 Genius hacks that will help you camouflage trouble spots in your home without breaking a sweat (or your budget).
Read more »
At least 22 killed in RSF attacks on Sudan’s al-Fashir, says activist groupThe Globe and Mail offers the most authoritative news in Canada, featuring national and international news
Read more »
22 Genius Ways To Hide Eyesores In Your Home Without Breaking A Sweat22 Genius hacks that will help you camouflage trouble spots in your home without breaking a sweat (or your budget).
Read more »