BUSD

Impact

<p style="text-align: justify"><a href="https://en.coin-turk.com/binance-applies-to-fsc-for-operation-in-taiwan-under-the-anti-money-laundering-law/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a> (<a href="https://coin-turk.com/binance-bu-6-altcoin-icin-onemli-duyuru-yapti-iste-yeni-listelemeler-ve-delistler" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/crypto-analyst-binance-coin-bnb-to-face-similar-fate-in-2022/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BNB</a>), the largest cryptocurrency exchange, is going through a difficult period due to regulatory pressures. Considering its status as the largest crypto exchange, Binance contributes to a significant portion of the current demand for cryptocurrencies.</p>
<h2 id="movement-in-binance-market-share">Movement in Binance Market Share</h2>
<p style="text-align: justify">However, the decreasing demand is causing users to hesitate to use the exchange under the current challenging conditions. It is reported that Binance’s spot market share has been declining for the past seven months. While the spot market share was around 38.5% in August, it increased to 34.3% a month later. However, compared to the highest level of 55.2% in January, this decline falls behind.</p>
<p style="text-align: justify">It was inevitable for the decreasing market share to affect Binance’s operations. For example, if we look at Binance USD’s (BUSD) performance on BSC, there has been a significant decrease in the number of active addresses since the peak in March. When the performance of active addresses in the last 12 months is examined, it is stated that the number of active addresses has significantly increased from October 2022 to the peak in March 2023. As a perspective, active addresses exceeded 300,000 and have since dropped below 100,000.</p>
<p><img decoding="async" class="aligncenter wp-image-264532 size-full" src="https://coin-turk.com/wp-content/uploads/2023/10/BINANCE.png" alt="" width="2048" height="693"></p>
<h2 id="the-impact-of-regulations-on-binance">The Impact of Regulations on Binance</h2>
<p style="text-align: justify">There has also been a significant decrease in network growth since March, which can indicate the impact of Binance’s difficulties on the market. However, this situation may not only be due to regulatory pressures. The same measurements can also reflect the slower market conditions in the cryptocurrency market, as observed in recent months. USD volumes can be an indicator of something different. It maintained healthy volumes between October 2022 and March 2023. However, volumes have significantly decreased in the past few months.</p>
<p style="text-align: justify">This happened despite significant short-term market demand periods for cryptocurrencies between March and September. The low volume observed in BUSD on BSC can have a definite impact on Binance. This may be because regulatory reviews create a challenging environment for Binance to operate in the US, one of the regions with the highest cryptocurrency adoption rates in the world. As a result, the decrease in trust has negatively affected on-chain volumes.</p> Continue Reading: <a href="https://en.coin-turk.com/binance-faces-challenges-in-the-crypto-market-new-listings-and-delistings/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/binance-faces-challenges-in-the-crypto-market-new-listings-and-delistings/</a>

Binance Faces Challenges in the Crypto Market: New Listings and Delistings

Table of Contents

COINTURK NEWS

Other articles published on Oct 9, 2023

Polygon (MATIC) Price: Analysis, Bearish Pressure, and Bullish Expectations

Top 5 Financial Must-Know Events This Week

The Rise Of Automated Portfolio Management In DeFi

Paxful offers Bitcoin via Costco card, sells out in hours

Informatics Department Dominates Robotics Competition with Human-Robot Interaction Triumph

Caroline Ellison’s Testimony In SBF Fraud Trial Could Be a Crypto Game-Changer

Join our free newsletter for daily crypto updates!