Binance spot trading share hits 4-year low as rivals gain and CZ questions X’s KYC plan
Binance’s global spot crypto trading share dropped to 25% in December, marking its lowest point since January 2021, according to CoinDesk Data. The exchange held 28.5% in November and peaked close to 60% in 2023, Bloomberg reported. This shift is crucial since spot trading — the buying and selling of tokens for immediate settlement — directly shows where liquidity actually lives. When that flow splinters, exchanges lose their grip on pricing, fee income becomes tougher to sustain, and the market’s so-called “default venue” begins to lose its default status.