The post Binance’s Market Share Declines, Lose Bitcoin Dominance to Emerging Exchanges appeared first on Coinpedia Fintech News
One of the leading cryptocurrency exchanges in the world, Binance, has faced increased competition after ending its large-scale zero-fee promotion last year. This strategic move has led to a decline in Binance’s Bitcoin (BTC) market share, allowing smaller exchanges to gain traction.
Market Share Shift: From 80% to 55%
According to a post by Kaiko Data, Binance’s BTC market share has dropped significantly over the past year.
“Binance’s $BTC market share currently stands at approximately 55%, down from over 80% a year ago.”
Competition for offshore markets is heating up. Binance has faced increased competition in $BTC markets since it ended its large-scale zero-fee promotion last year. pic.twitter.com/TM2zhzRd6E
— Kaiko (@KaikoData) April 23, 2024
The competition for offshore markets has intensified as smaller exchanges leverag
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