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Crypto Reporter

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Binance continues to increase its market share

March 10, 2023 By Crypto Reporter

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.

More news:

  • Binance launches $1 billion fund to accelerate Binance Smart Chain adoption
    Binance launches $1 billion fund to accelerate Binance Smart Chain adoption
    October 15, 2021
  • Only 3% of users left Binance after mandatory KYC
    Only 3% of users left Binance after mandatory KYC
    November 18, 2021
  • Binance will no longer support stock tokens
    Binance will no longer support stock tokens
    July 19, 2021
  • Dutch regulator issues a warning against Binance
    Dutch regulator issues a warning against Binance
    August 20, 2021
  • Binance gets regulatory approvals from Bahrain and Canada
    Binance gets regulatory approvals from Bahrain and Canada
    December 29, 2021
  • Binance receives crypto licence in Dubai
    Binance receives crypto licence in Dubai
    March 21, 2022

Filed Under: General News, Latest News, News Tagged With: Binance, cryptocurrency, exchanges, news

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