Binance’s Market Share Falls to 50%

Binance has faced a decline in its market share compared to other global competitors that do not offer support for the US dollar this year.

Binance’s market share among major platforms, including Upbit, Huobi, Bybit, and OKX, decreased from 75% at the end of 2022 to 54% in August.

The trend is expected to continue in September, with Binance’s market share dropping below 51%. However, a Binance spokesperson declined to comment on these figures.

The exchange, run by Changpeng Zhao, has faced numerous challenges within the regulatory landscape. In particular, it has been the subject of lawsuits from both the Securities and Exchange Commission and the Commodity Futures Trading Commission in the US.

Binance has also faced scrutiny in other countries, such as France, where it is under investigation, and it has exited certain markets altogether, such as The Netherlands.