Despite the withdrawal of Binance.US, Coinbase has surprisingly not managed to seize a larger slice of the American cryptocurrency market. A recent Kaiko report highlights Coinbase’s market share stagnation, hovering around 55% since May. In contrast, rivals like Kraken and LMAX ...
Despite the withdrawal of Binance.US, Coinbase has surprisingly not managed to seize a larger slice of the American cryptocurrency market. A recent Kaiko report highlights Coinbase’s market share stagnation, hovering around 55% since May. In contrast, rivals like Kraken and LMAX Digital are swiftly claiming the space left open by Binance.US, with Bitstamp also marking an uptick in its U.S. presence amidst growing legal intricacies.
Coinbase Stalls as Kraken Advances
Coinbase, recognized as the top crypto exchange in the U.S. by trading volume, seems immobile in its leading position, according to Kaiko’s data. Kraken, just a little behind, is inching forward, gradually grabbing Coinbase’s market dominance. According to data, Coinbase’s 24-hour trading volume is approximately $2.4 billion, significantly lower than Binance’s $9.34 billion in the global spot market.