Binance's market share in spot crypto trading volumes has decreased by almost 15% in recent months, dropping from 62% in February to around 47% this month. The decline is attributed to factors such as the exchange ending its zero fees on bitcoin trading and overall tepid trading volumes. However, Binance remains the largest spot crypto exchange in the world.

Binance's spokesperson stated that the decline in market share was expected and not a concern for the company, as their primary objective is to deliver for their users by maturing existing products and services and investing in compliance processes. Meanwhile, Binance's rivals, including OKX and Coinbase, have seen their market share increase slightly in recent months.