June 26 (Cointime) - According to Kaiko, Binance's market share has dropped to a one-year low due to increased regulatory scrutiny. The US SEC recently filed a lawsuit against Binance.US for violating federal securities laws, which has contributed to the decline in market share. Binance's spot trading market share has dropped to 53.7%, the lowest since August 2023. Other crypto exchanges, such as Coinbase, are also facing regulatory pressure, but Binance still surpasses all other exchanges in terms of size and liquidity.
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Binance's Market Share Drops to One-Year Low Amid Regulatory Scrutiny
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Cointime August 4 News Express
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Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX
According to the monitoring of on-chain analyst Yu Jin, Jump Trading may be selling ETH: they are currently redeeming a wstETH (120,000 pieces) worth $410 million in batches into ETH and then transferring it to exchanges such as Binance/OKX. So far, they have unpacked and redeemed 83,000 wstETH into 97,500 ETH in the 9 days since July 25. Among them, 66,000 ETH (191.4 million US dollars) have entered the exchange.At present, there are still 37,600 wstETH in their wstETH storage address that have not been transferred out; 11,500 stETH in the redemption ETH address is being redeemed into ETH; and 20,000 ETH in the ETH transfer address to the exchange are waiting to enter the exchange in batches. -
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