How have smaller cryptocurrency exchanges capitalized on Binance's declining market share?

1 year ago
1

In the wake of Binance's diminishing market share and regulatory difficulties, smaller cryptocurrency exchanges categorized as having higher customer risk levels have emerged as winners. Exchanges like Huobi Global and KuCoin, based in the Seychelles, have managed to expand their market share in trading crypto tokens such as bitcoin and ether.

Contrary to this trend, exchanges designated as "top tier" by industry research provider CCData, based on their robust customer fund protection, security measures, and anti-money laundering standards, have seen a decline in their collective market share.

This shift demonstrates that many crypto traders prioritize anonymity and the ability to exchange funds from various sources, even if the exchange is perceived as less compliant. Smaller exchanges without regulatory issues have benefited from this sentiment, as some traders become wary of larger exchanges under regulatory scrutiny like Binance.

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