Binance has regained its position as the world’s most dominant crypto exchange, capturing nearly 50% of the global market share, according to data from Kaiko. The analytic data provider revealed that Binance’s market share has rebounded to almost 50% in the two months following its settlement with the United States Department of Justice (DoJ).

Binance Rising, Claims Nearly 50% Of Market Share

In a post on X, Kaiko pinned Binance’s resurgence to a spike in trading volume fueled by its zero-fee promotion in December 2023. BNB, Dogecoin (DOGE), and Solana (SOL) were among the coins supported. They were all paired with FUSD, a stablecoin.

The data provider also said the hype surrounding the United States Securities and Exchange Commission (SEC) approving several spot Bitcoin exchange-traded funds (ETFs) helped Binance claw back market share losses. 

This decision proved worthwhile for Binance, considering many network users expected crypto prices to continue trending higher after their bounce from November 2023 lows. Institutional investors can easily gain Bitcoin exposure with the United States SEC now permitting the trading of regulated spot Bitcoin ETFs.

Regulatory Challenges Behind: Will BNB Float Above $340?

Binance’s recovery is a major milestone for the exchange, which faced regulatory scrutiny in the United States following its initial expansion into the country. The SEC

Go to Source to See Full Article
Author: Dalmas Ngetich

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details