Binance saw its market share plummet to 36.6%, the lowest in four years, according to CCData.

This decline has been ongoing since March, as the company faced increasing regulatory scrutiny from global authorities.

Earlier this year, Binance’s market share was 42.7%, reflecting a substantial decrease in just a few months.

Binance’s spot market share has fallen to merely 27% of trades, its lowest since January 2021.

Over the past year, Binance confronted substantial regulatory challenges, culminating in a settlement with the U.S. Justice Department over sanctions violations, resulting in a US$4 billion fine.

Following these troubles, co-founder and former CEO Changpeng Zhao resigned after facing legal issues, including a four-month jail sentence.