Bitcoin

<ul><li>Binance&#39;s trading activity decline is a major factor behind September&#39;s crypto market downturn.</li><li>Bitcoin&#39;s recent 8% price increase highlights its resilience amid market challenges.</li><li>Ongoing legal battles with SEC and DOJ are affecting market dynamics and exchange performance.</li></ul>In an unexpected twist, the cryptocurrency market has encountered a substantial decline in trading activity throughout the month of September, with the world&#39;s largest crypto exchange, Binance, emerging as the primary catalyst for this downturn. Recent findings from the crypto research firm K33 Research<a href="https://www.binance.com/en/feed/post/1095379?ref&#61;520503560" rel="noopener noreferrer nofollow"> revealed </a>a staggering 57% plunge in Binance&#39;s seven-day average bitcoin spot volume since the start of the month. The significant decrease, in trading activity on the platform has led to a 48% decline in overall trading volume, within the cryptocurrency market.Bitcoin, oftenly seen as an indicator, for the cryptocurrency market has seen a decrease of 8% in its spot trading volume, over the week reaching its lowest point in 35 months. Intriguingly, this decline could be primarily attributed to the dwindling activity on Binance, while other spot exchanges have maintained relatively steady volumes.K33 Senior Analyst Vetle Lunde and Vice President Anders Helseth<a href="https://k33.com/research/articles/crypto-specifics-now-dictate-market-direction" rel="noopener noreferrer nofollow"> posited </a>that the ongoing legal tussles between Binance and regulatory bodies like the U.S. Department of Justice <a href="https://www.binance.com/en-NG/feed/post/751243" rel="noopener noreferrer nofollow">(DOJ)</a> and the Securities and Exchange Commission<a href="https://www.binance.com/en-NG/feed/post/751243" rel="noopener noreferrer nofollow"> (SEC) </a>could be discouraging market participants from engaging with the platform.Read full article at<a href="https://cryptotale.org/binances-impact-key-driver-behind-septembers-crypto-market-slump/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Binance's Impact: Key Driver Behind September's Crypto Market Slump

CryptoTale

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