3 Reasons Why Binance US Weekly Trade Volume Has Dropped by 99%
The Binance/SEC legal battle, the crash of the crypto market, and the ongoing FUD could be some of the factors playing a role in the falling figures....
- Binance US has experienced a significant decrease in customer withdrawals and trading volume in recent months.
- Weekly trade volumes on the platform have dropped by 99%, from nearly $5 billion in March to $40 million.
- The decline in trade volume intensified after the SEC filed a lawsuit against Binance, its CEO, and Binance US, alleging law violations and market manipulation.
- Binance US removed over 100 trading pairs following the SEC's attack.
- The overall cryptocurrency market's decline, including Bitcoin and altcoins, may have contributed to the reduced trading volume.
- Fear, Uncertainty, and Doubt (FUD) surrounding Binance and its reputation could also be a factor in the outflow of investors.
The article discusses the challenges faced by Binance US, indicating a negative sentiment due to the decrease in trade volume, SEC lawsuit, and FUD surrounding the platform.