binance trader on binance They seem far more concerned with fees than the actions of US authorities.
Binance’s market share in physical trading volume has fallen by around 16% over the past two weeks, with many pointing to the CFTC blaming the exchange for the decline.
However, Binance’s market share was already below 60% before the regulatory action.instead of silkworm latest research It suggests liquidity left the exchange after exiting the zero-free trading program. March 22.
The situation appeared to deteriorate following the CFTC indictment on March 27, which saw its market share drop to 54%.
Percentage share of the exchange’s physical trading volume.Source: Kaiko
Additionally, the use of derivatives and other Binance products such as its American trading desk, Binance.US, has remained stable, suggesting that traders are ignoring regulatory risks for now.
“I think traders are much more cost-conscious,” said Clara Medalie, research director at Kaiko. Decryption“The CFTC litigation had little impact on the volume or volume of derivatives on Binance.US, which was not part of the termination of the zero-fee program.” offer Zero fees on Bitcoin, Ethereum and Stablecoin pairs.
Binance’s share of traded volume in perpetual futures, a popular derivative product, fell by just 2% after the CFTC lawsuit, maintaining a significant 63% lead over the rest of the market.
Percentage share of perpetual futures trading volume on cryptocurrency exchanges.Source: Kaiko
Kaiko’s report also shows that Binance’s US subsidiary has tripled its market share in spot trading volume since its launch in 2023.
Binance.US also coin baseits dominance in the country fell from 60% to 49% in the first quarter.
