Binance.US finds itself grappling with an array of difficult obstacles, each of which has contributed to a notable downturn in its trading operations.
These unforeseen obstacles have collectively cast a shadow over the platform’s once-vibrant trading landscape, prompting concerns about its sustained viability in the market.
The monthly trading volume of Binance.US, the American counterpart of the renowned global cryptocurrency exchange Binance, has plummeted by 98% from January to August 2022, according to statistics from independent research firm CCData, with additional declines anticipated for September.
Binance.US Trading Volume Takes A Hit
The trading volume on Binance.US dropped to $5.09 million over the weekend, data from Amberdata shows. As a comparison, the exchange’s trading volume was around $230 million on September 17, 2022.
The majority of the fall has occurred subsequent to March, coinciding with the US Commodity…
