According to the latest report by CryptoCompare, Binance’s spot market share across the most popular crypto trading platforms grew for a fourth month in a row, increasing from 59.4% in January to 61.8% in February.
Binance, the world’s largest crypto exchange, also had a 13.7% increase in its spot volumes to $504 billion.
This comes as regulators in the U.S. and beyond have ratcheted up their scrutiny of the exchange in recent months. Most recently, a U.S. Securities and Exchange (SEC) official said that agency staff believe Binance.US may be operating an unregistered securities exchange in the U.S., an assertion to which Binance.US objected. Binance is a corporate entity that operates in US through Binance.US.
“Despite the recent criticism the exchange has received, market participants continue to take shelter on Binance under the premise that the largest exchange is seen as one of the safer trading venues,” said Jacob Joseph, a research analyst at CryptoCompare, in an interview with CoinDesk.