- Current value of 2.7%
- Binance.US lags far behind Kraken and Coinbase
- Transaction volume on the platform is also down significantly
- It was over $17 billion in March, but dropped to $1.6 billion in June
Binance.US market share has dropped to 2.7% as of June 15. Transaction volume continues to fall for the fourth month in a row. All this indicates that the company is unlikely to regain its position even if its parent company “wins” in the SEC lawsuit.</nbsp;
As seen in the chart below, Coinbase remains the undisputed market leader.. But the share of Binance.US declined to December 2020 levels:
Transaction volume on Binance has been down since March this year, from $17.63 billion to $1.61 billion in June:
For all platforms that support USD interactions, Binance.US declined from 16.1% in April to 8.5% in May. In June, the figure is 5.4%:
What’s going on with the exchange?
The explanation here is pretty simple-the SEC has filed a lawsuit against Binance, its subsidiaries and CEO Changpeng Zhao. The regulator also demanded the seizure of the unit’s assets because customer funds in the U.S. were allegedly in danger.
The court sided with the company. But by the end of the day today, June 15, the SEC and Binance.US are expected to present a draft deal on restrictions, designed to act as a kind of compromise. Earlier, the company suggested that the keys to accounts with funds from U.S. customers should be turned over to federal authorities.