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Binance, one of the world&#8217;s largest cryptocurrency exchange by trading volume, has lost a significant market share of trade volume over the past two weeks.
According to blockchain analytics platform <a href="https://blog.kaiko.com/binance-market-share-tumbles-16-fcb6d1dce7fe" rel="nofollow noopener" target="_blank">Kaiko</a>, Binance&#8217;s market share fell by 16% to 54% at the end of Q1, following regulatory pressure and the decision to halt some zero-fee trading.
<figure id="attachment_20462" aria-describedby="caption-attachment-20462" style="width: 963px" class="wp-caption alignnone"><img decoding="async" class="wp-image-20462 size-full" src="https://crypto.ro/en/wp-content/uploads/2023/04/Binances-market-share-trading-volume-among-the-top-centralized-exchanges-fell-to-54-by-the-end-of-the-first-quarter.jpg" alt="Binances market share trading volume among the top centralized exchanges fell to 54 by the end of the first quarter" width="963" height="444" srcset="https://crypto.ro/en/wp-content/uploads/2023/04/Binances-market-share-trading-volume-among-the-top-centralized-exchanges-fell-to-54-by-the-end-of-the-first-quarter.jpg 963w, https://crypto.ro/en/wp-content/uploads/2023/04/Binances-market-share-trading-volume-among-the-top-centralized-exchanges-fell-to-54-by-the-end-of-the-first-quarter-300x138.jpg 300w, https://crypto.ro/en/wp-content/uploads/2023/04/Binances-market-share-trading-volume-among-the-top-centralized-exchanges-fell-to-54-by-the-end-of-the-first-quarter-768x354.jpg 768w, https://crypto.ro/en/wp-content/uploads/2023/04/Binances-market-share-trading-volume-among-the-top-centralized-exchanges-fell-to-54-by-the-end-of-the-first-quarter-750x346.jpg 750w" sizes="(max-width: 963px) 100vw, 963px" title="Binance loses 16% market share amidst regulatory pressure and zero-fee trading halt 1"><figcaption id="caption-attachment-20462" class="wp-caption-text">By the end of Q1, Binance&#8217;s market share of trading volume among the leading centralized exchanges had dropped to 54% | Kaiko</figcaption></figure>
<a href="https://crypto.ro/en/news/binance-and-ceo-cz-facing-regulatory-action-from-cftc-irs-and-sec/">The US Commodity Futures Trading Commission(CFTC) filed a lawsuit against Binance</a> on March 27, accusing the exchange of flouting regulatory compliance and violating derivatives laws by offering trading to US customers without registering with market regulators.
Binance also <a href="https://www.binance.com/en/support/announcement/updates-on-zero-fee-bitcoin-trading-busd-zero-maker-fee-promotion-be13a645cca643d28eab5b9b34f2dc36" rel="nofollow noopener" target="_blank">decided</a> to end zero-fee spot and margin trading for 13 trading pairs, including <a href="https://crypto.ro/en/cryptocurrencies/bnb/">BNB</a>, <a href="https://crypto.ro/en/bitcoin/">Bitcoin</a>, and <a href="https://crypto.ro/en/education/best-crypto-to-buy-now/#2-ethereum-eth-large-cap-best-crypto-to-buy-today">Ether</a> with multiple fiat currencies and stablecoins, which led to a loss in trading volume.
However, Binance&#8217;s US arm managed to triple its market share over the quarter, from 8% to 24%. The exchange also maintained its derivatives dominance, only giving up 2% market share over the last quarter.
Kaiko&#8217;s report suggested that the fall in trading volume figures was mostly due to the end of zero-fee spot trading, rather than trepidations around the lawsuit.
Nonetheless, Binance&#8217;s market share fell to 54% after being one of the big winners of <a href="https://crypto.ro/en/news/bitcoin-ownership-hits-record-highs-after-the-ftx-fiasco-say-analysts/">the FTX fiasco</a>, which saw its market share in trading volume rise to 65% during the last quarter of 2022.
In response to recent regulatory pressures, banking crises, and the catastrophic collapse of FTX, many reports have observed a growing trend towards decentralized alternatives and self-custody wallets.
Bitcoin and Ether left centralized exchanges in record numbers following the fall of FTX. Trading volumes on the decentralized exchange <a href="https://uniswap.org" rel="nofollow noopener" target="_blank">Uniswap</a> are now rivaling that of crypto exchanges <a href="https://www.coinbase.com" rel="nofollow noopener" target="_blank">Coinbase</a> and OKX but are still only a fraction of that processed by Binance.

Binance loses 16% market share amidst regulatory pressure and zero-fee trading halt

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