Binance's Market Share Drops to 30% Amid Regulatory Challenges
Despite a significant decline from 55% at the start of the year, Binance remains the largest cryptocurrency exchange, with its closest competitor, OKX, holding an 8% market share.
- Binance, the world's largest cryptocurrency exchange, has seen its market share drop from 55% at the beginning of the year to 30.1% in December.
- The exchange's monthly spot volumes declined by over 70% from $474 billion to $114 billion between January and September.
- Regulatory challenges and top-level exits, including that of founder and CEO Changpeng 'CZ' Zhao, have contributed to this decline.
- Despite the drop, Binance remains the largest cryptocurrency exchange by a wide margin, with its closest competitor, OKX, holding an 8% market share.
- OKX has seen its market share grow from 4% at the start of the year to 8% in December.
CoinDesk 
Benzinga 
