Binance’s Crypto Trading Market Share Drops to 4-Year Low: CCData
According to a recent report, trading activity on crypto exchanges decreased last month, with both derivatives and spot trading volumes dropping by 17%. CCData analysts pointed out that September typically marks the end of a slow mid-year season in trading, leading to a busier final quarter.
The report also mentioned potential catalysts that could boost trading activity in the coming months. These include increased market liquidity following the Federal Reserve’s interest rate cut and the upcoming U.S. election. As a result, centralized exchanges are expected to see a rise in trading volume in the near future.
Overall, the outlook for the cryptocurrency market appears to be positive as we head into the last quarter of the year. Traders and investors are keeping a close eye on market developments and are preparing for increased activity in the coming months.
