The data from Kaiko reveals a declining trend in Binance’s market share, which also extends to smaller altcoins. Binance’s share decreased from 58% to 50.5%. This trend is noteworthy in platforms like Bybit and OKX, particularly in regions like Asia.
Bybit’s non-U.S. Bitcoin trading share surged from 2% to 9.3%, while OKX’s increased from 3% to 7.3%. Binance is encountering challenges due to a $4.3 billion deal with U.S. regulators, leading to certain restrictions on the exchange. Jeff Perlman, Binance’s head of institutional sales, states that the U.S. now functions as an “authorized referee,” adding that although the exchange is not enthusiastic about this development, it sees it as an opportunity to improve existing programs and procedures.
