During the first quarter, Binance saw a decline of 16% in its global market share due to challenges such as the banking crisis and regulatory crackdown which have disrupted the cryptocurrency market structure, creating an uncertain environment among top exchanges.
Within the past fortnight, Binance’s market share of trade volume has dropped by 16% as a result of a CFTC lawsuit and the discontinuation of its zero-fee trading program.
Despite these developments, Binance still maintains its position as the largest exchange globally, commanding a market share of 54%.