Binance Market Share Drops to One-Year Low: Details

reports that Binance's market share is hovering close to a one-year low as a result of the widening crackdown on the crypto industry.and its founder, Changpeng"CZ" Zhao, on June 5, dealing a setback to the biggest cryptocurrency exchange.

On April 6, immediately following a separate complaint from the U.S. Commodity Futures Trading Commission, Binance's daily market share fell to as low as 47%. This highlights that not only is Binance seeing a loss of market share, but U.S.-based Coinbase, which was also sued by the SEC, saw its market share drop from 7.6% at the year's start to 6.8% in June.

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