BUSD

Bitcoin

Spot

TrueUSD

<a href="https://optimisus.com/market/market-news/63-5-of-institutional-investors-remain-bullish-on-crypto-binance-survey-reveals/">Binance</a>, one of the world's largest cryptocurrency exchanges, experienced a 70% decline in spot trading volume during the second quarter of this year.   
The introduction of fees for its most liquid Bitcoin pairs and increasing regulatory pressures were the key factors behind this slump, according to <a href="https://marketing.kaiko.com/whats-driving-bitcoins-rally-1?ecid=AOKeC1ZsxplPoISj8-MxfRcQE_Oll4kxJQNtgSOc4UfLGw-sOayRHTHK0ewe4KlZd97Wv-_Vkdtk&amp;_hsmi=73538787">data from Kaiko</a>.   
The decline in spot trading volume was not unique to Binance, as other major exchanges such as Coinbase, Kraken, OKX, and Huobi also witnessed a significant drop in trading activity during the same period.   
The reintroduction of fees for its most liquid Bitcoin pairs was a major contributing factor to the decline in Binance's spot trading volume.   
Previously, the exchange had offered zero-fee trading for Binance USD (BUSD), but due to regulatory challenges faced by the stablecoin, it switched to TrueUSD (TUSD). This change resulted in a decline in trading activity, indicating that users left the platform after the incentives were canceled.   
Furthermore, Binance faced increased regulatory pressure in multiple jurisdictions during the second quarter. The U.S. Securities and Exchange Commission (SEC) accused the exchange of violating federal securities law by offering crypto securities tokens to American investors.   
Consequently, Binance's U.S. subsidiary, Binance.US, experienced a significant drop in market share and liquidity issues.   
In Europe, Binance lost its Euro payment partner and exited several markets, including Austria, the Netherlands, Germany, and Cyprus.   
The company cited its focus on ensuring compliance with Europe's forthcoming Markets in Crypto Assets (MiCA) regulations as the reason behind these exits.   
It is worth noting that the decline in spot trading volume was not exclusive to Binance. Other major exchanges such as Coinbase, Kraken, OKX, and Huobi also witnessed a decline of over 50% in their spot trading activities during the same period.   
This suggests that the overall market sentiment and regulatory challenges had a broad impact on the trading volumes across the cryptocurrency industry. 
The post <a rel="nofollow" href="https://optimisus.com/market/market-news/binance-spot-trading-volume-drops-by-70-amid-regulatory-pressures-and-bitcoin-fee-reintroduction/">Binance Spot Trading Volume Drops by 70% Amid Regulatory Pressures and Bitcoin Fee Reintroduction</a> appeared first on <a rel="nofollow" href="https://optimisus.com">Optimisus</a>.

Binance Spot Trading Volume Drops by 70% Amid Regulatory Pressures and Bitcoin Fee Reintroduction

Optimisus

2023년 7월 4일에 게재된 다른 기사

The Power of the Crypto Community: Unleashing Success in Power Crypto World

Nasdaq Resubmits Updated Application for iShares Bitcoin Trust with a Surveillance-Sharing Agreement

Another Showdown? Meta Looks to Overthrow Twitter with Threads

South Africa Will Require Exchanges to Register by Year-End

Bitcoin MACD turns green on the monthly chart, signalling start of a bull market

BTC Price Analysis: Bitcoin’s Recent Silver Cross Points to Potential Breakout Above $40K

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!