Binance marketshare at lowest point since beginning of the year
Quick Take
- Binance’s marketshare among exchanges with no USD support has shrunk from 72% at the start of the year to 58%.
Binance, the largest global cryptocurrency exchange, faces a dwindling marketshare as executives from the firm depart, according to data from The Block's data dashboard.
Top executives at Binance resigned this week over CEO Changpeng Zhao’s handling of regulatory investigations into the company, Fortune reported, citing sources. Senior officials at the company including general counsel Han Ng, chief strategy officer Patrick Hillmann and SVP for compliance Steven Christie told Zhao they are leaving the company, Fortune said.
The exits come amid a dip in Binance's marketshare among global exchanges. The firm saw its market share fall from 72% in January to just over 58% at present.
The figures represent the marketshare of spot trade volumes for cryptocurrency exchanges with no USD support or USD pairs contributing insignificant volumes.
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