Binance derivatives market share shrinks to 2020 levels as CEX trading slumps
While Binance and other centralized exchanges saw activity decline in September, Crypto.com witnessed its trading volume reach an all-time high.
Global crypto exchange Binance experienced a significant decline in trading activity in September.
According to a CCData report, trading volume for derivatives on Binance fell by 21% to $1.25 trillion in September, the lowest level since October 2023. With the decline in activity, the exchange’s derivatives market share stood at 40.7% at the end of the month — the lowest since September 2020.
The downward trend also affected spot trading volume, which dropped by 22.9% to $344 billion, marking the lowest monthly spot volume since November 2023. The decline in spot trading reduced Binance’s market share to 27%, the lowest since January 2021.
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Author: Ana Paula Pereira
