© Reuters Binance Loses 20% Market Share After Rolling Back Zero-fee Trading Campaign. Where Did It Go?
- Binance has lost 20% of its market share since reserving its zero-fee trading promotion for BTC/TUSD.
- The lost market share has not gone to leading U.S.-based competitors as some would expect.
- A researcher has said the SEC is to blame for consumers ignoring U.S.-based crypto trading venues.
Binance is the world’s leading crypto exchange by 24-hour trading volume despite being at least five years younger than its biggest competitors, Coinbase (NASDAQ:) and Kraken. One of the reasons for Binance’s meteoric rise was its heavy focus on marketing strategies.
One such strategy was its zero-fee trading campaign for pairs, which launched in July 2022 despite a bear market that saw its competitors drop trading volume and revenue. However, Binance decided to roll back this campaign on March 22. It may have…
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