As the data is only current to the end of May, it does not take into account any potential impact from the recent SEC lawsuits against Coinbase or Binance.CCData shows that of all the major firms to suffer a decline in trading volumes, Binance was hit the hardest.
In May, Binance gave up even more of its total market share, falling to just 43% overall, down from its peak of 57% in February. This marked the third consecutive month that Binance’s total market share declined. The report said this bulk of this decline can be attributed to Binance removing zero-fee trading for USDT pairs but noted the exchange was no doubt feeling theTop centralized exchange market share change March thru May. Source: CCData.
The largest beneficiaries of Binance’s market share slide were crypto exchanges Bullish, Bybit and BitMEX which each gained a little more than 1% in market share between March and May.
According to a June 7 report from crypto analytics firm CCData, combined spot and derivatives trading volume in May fell 15.7% from the previous month, marking the second consecutive month of dwindling crypto trading activity.
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