Crypto exchange KuCoin has seen its market share of daily trading volume decline by half in recent weeks, according to Kaiko, a blockchain research and analytics firm.
The decrease comes days after the U.S. Department of Justice (DOJ) and Commodity Futures Trading Commission (CFTC) charged the company.
KuCoin Daily Trading Volume Plunges
Following the announcement of the charges, there was a surge in users seeking to withdraw their funds from the platform, leading to a deceleration in the withdrawal process. In response, KuCoin initiated an $8.95 million airdrop program to tackle the situation. Nevertheless, despite these efforts, the exchange’s market share has decreased by more than half, dropping from 6.5% to 3%, as reported by Kaiko data.
Before the charges, KuCoin’s daily trading volume stood at $2 billion. However, the charges brought about a drop in the daily volume by approximately 75% to $520 million. In addition, KuCoin users’ Bitcoin holdings in March dropped by 25.4%
We współpracy z: https://cryptopotato.com/kucoins-market-share-declines-by-50-after-doj-and-ctfc-charges/
