New data from research firm K33 Research shows that Binance has seen a big drop in the volume of trading in Bitcoin since the beginning of September.
The firm’s main competitor, Coinbase, saw a 9% increase in volumes over the same period.
The decline in trading volume is tied to regulatory pressures on Binance, which have led to various legal issues and license rejections.
Among these include a lawsuit filed by the SEC against the company, its U.S. division Binance.
US, and its founder Changpeng CZ Zhao three months ago.
While Binance struggles in the cryptocurrency market, its parent company, Binance Holding Company, continues to struggle as well.
It has lost control of its European business and has been forced to offer no-fee trades with TrueUSD.
In addition, the company has terminated its zero-fee promotion for BTC trading with trueUSD.
This was one of the most liquid trading pairs on the platform, and may have
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