TechFlow news, according to data from Kaiko, Binance's market share in the cryptocurrency exchange sector dropped significantly to 44.5% last year. This decline reverses a three-year upward trend, during which Binance's market share surged from 22% in 2020 to a peak of 60% in 2022.
Due to regulatory violations, Binance exited Canada, the UK, and several European countries including Austria, Cyprus, and the Netherlands in 2023. Regulatory barriers across multiple jurisdictions have contributed to the decline in its market share over the past year.
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