Binance Bitcoin Spot Trading Volume Plummets Nearly 60%
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According to the latest report published by K33, Binance is the exchange that has been hit the hardest by the fall in Bitcoin spot trading with a 57% decline since September 1.

According to the paper, the total value for all platforms has declined by 48%. At the same time, Bitcoin spot volumes have fallen another 8% compared to the five-year low recorded in August.

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Analysts at the firm have highlighted that Binance is leading the decline, while other platforms are showing relatively stable performance.

According to them, Binance's fall is due to protracted litigation with the SEC and CFTC. However, its closest competitor, Coinbase, has posted a 9% increase in BTC spot trading in September.

Additionally, K33 has reported a slight uptick in Ethereum and Binance Coin. Over the past seven days, both coins have experienced 6% growth.

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