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📉 Binance Market Share Hits Four-Year Low
Binance's share of the combined spot and derivatives trading volume in the centralized exchange (CEX) market has dropped to 36.6%, its lowest level since September 2020, according to a CCData report (https://ccdata.io/reports/exchange-review-september-2024).🧐
In September, Binance's spot trading volume fell by 23% compared to August, reducing its market share to 27%. Derivatives trading also saw a 21% decline, leaving Binance with 40.7% of the CEX segment. 🤷
Crypto.com emerged as a beneficiary, increasing its total volume by over 40% month-on-month, reaching a 10.5% market share. 📈
Total CEX trading volume dropped by 17% in September to $4.34 trillion, marking the lowest since June. However, analysts expect increased activity in the coming months, driven by factors such as rising market liquidity and the upcoming US elections. 🚀 0 reply
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