Binance’s spot trading market share falls to 40% in 2023: Report

Crypto exchange Binance’s market share in spot trading has fallen to 40% in late 2023, compared to 62% a year ago.

According to the November 6 report by blockchain analytics firm 0xScope, the exchange has lost one-third of its market share in the past 12 months. “Binance’s spot trading volume has seen a significant decline in the past year, perhaps due to its listing strategy,” researchers wrote, “Most popular coins experienced a downturn immediately after being listed on Binance.” At the…