Binance, the largest cryptocurrency exchange, has seen a significant decrease in Bitcoin trading volume due to lawsuits and regulatory scrutiny. According to K33 Research, Binance’s average spot BTC volume has dropped by 57% since September, while competitor Coinbase has experienced a 9% increase in volume. Analysts suggest that the ongoing legal cases against Binance have deterred market makers from trading on the platform, leading to the decline in volume. Binance’s troubles are expected to have a negative impact on market volumes overall.
AI Sentiment: Negative
