Binance.US market share falls to 2.7%, continuing downward trend
Quick Take
- Binance.US’s market share in the U.S. fell to 2.7%, the lowest it’s been since December 2020.
- The Block data shows the decline continues a months-long downward trend in volume at the beleaguered exchange.
Binance.US's market share in the U.S. has fallen to the lowest level in two years.
Binance.US' declining market share, according to the crypto data tracker Kaiko.
The exchange's market share in the country is 2.7%, according to the crypto data firm Kaiko. Last week, the Securities and Exchange Commission sued Binance and its affiliates over alleged legal violations.
Binance.US exchange volume had been decreasing steadily over the past three months, The Block data shows. Binance.US saw $17.6 million of exchange volume in March, $15.2 billion in April and $5.9 billion in May.
In a broader comparison, Binance.US has also been squeezed out of market share from all exchanges with USD support. It had 16.1% of spot trading trading volumes among other USD-supporting exchanges in April, but that figure dwindled to 8.5% in May. It's currently around 5.4%, although data for June is incomplete.
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