{"id":25911,"date":"2024-01-31T07:27:16","date_gmt":"2024-01-31T07:27:16","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/binance-market-share-jumps-to-49-in-2024-post-ceo-departure\/"},"modified":"2024-01-31T07:27:16","modified_gmt":"2024-01-31T07:27:16","slug":"binance-market-share-jumps-to-49-in-2024-post-ceo-departure","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/binance-market-share-jumps-to-49-in-2024-post-ceo-departure\/","title":{"rendered":"Binance Market Share Jumps to 49% in 2024, Post CEO Departure"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>In January 2024, Binance, the largest cryptocurrency exchange globally, saw a significant rise in its market share, reaching 49%. This increase comes after a notable period of low performance in 2023. The boost in market share is attributed to several key factors, including strategic decisions and industry trends.<\/p>\n<p>Binance\u2019s comeback began with its legal <a href=\"https:\/\/igaming.org\/crypto\/binance-faces-potential-4-billion-settlement-in-u-s-department-of-justice-probe\/\">settlement<\/a> with the U.S. Department of Justice in November 2023. This event marked a turning point, despite the departure of its former CEO, Changpeng Zhao, a prominent figure in the crypto world. The settlement initially did not seem to affect Binance\u2019s trading volume. However, developments in the following months would significantly change its fortunes.<\/p>\n<p>In December, <a href=\"https:\/\/igaming.org\/cryptocurrencies\/binance\/\">Binance<\/a> reintroduced zero-fee trading promotions for major cryptocurrencies such as Bitcoin, Ethereum, and XRP. This move aimed to increase the demand for its stablecoin, First Digital USD. The zero-fee strategy was not new to Binance; it was a key factor in the exchange\u2019s growth in 2022. The termination of this program last year led to a substantial drop in trading volumes, underscoring its importance.<\/p>\n<p>Moreover, the crypto industry saw heightened interest in early January, especially with the hype around Bitcoin spot ETFs. This interest boosted overall trading volumes. According to CryptoQuant data, Binance experienced a significant influx of stablecoins, indicating increased buying and trading activity.<\/p>\n<p>Despite these positive developments, Binance\u2019s market share is still below its peak of 65% in 2023. In their report, Kaiko, a leading crypto market researcher, noted,<em> \u201cThe exchange has proven to be mostly resilient in the aftermath of the settlement.\u201d<\/em><\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong> <\/p>\n<p>New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/binance-market-share-jumps-to-49-in-2024-post-ceo-departure\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) In January 2024, Binance, the largest cryptocurrency exchange globally, saw a significant rise in its market share, reaching 49%. This increase comes after a notable period of low performance in 2023. The boost in market share is attributed to several key factors, including strategic decisions and [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":25912,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25911"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=25911"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25911\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/25912"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=25911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=25911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=25911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}