“We forecast a drop in market share once we ended our zero-fee BTC trading promotion for most trading pairs. This is not a concern for us. We continue to maintain our strong financial performance.”
The spokesperson added that right now Binance’s goal is to cater to users through new and existing products while “continuing to invest in compliance processes for a new era of regulatory certainty.”numbers as high as 57.5%. In addition, the report noted that spot trading on Binance fell by 48.1% to $287 billion in April.While the next largest exchanges Coinbase and OKX make up only 5.60% and 5.39% of the total spot trading market, there has been small momentum gained by smaller exchanges.
The spokesperson for Binance told Cointelegraph that it sees competition as something positive for the space.These developments come as Binance experiences other changes in its operations aside from ending zero-fee BTC trading. On May 12, the company announced that it has decided to
Previously, binance controlled over half of the market share, with some numbers showing its share as high as 57.5%. In addition, the report notes that spot trading on Binance fell by 48.1% to $287 billion in April.
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