According to CryptoCompare data, Bitcoin is trading at a premium of over 1% on Binance.US, with a price above $26,000, surpassing major rivals like Kraken and Coinbase.

However, the exchange's USD trading volume has dropped significantly to less than $25 million due to banking partners halting USD payment channels by June 13, leading Binance US to transition to a crypto-only platform.

Market depth on Binance US has also declined by 78% within a week of the U.S. SEC filing a lawsuit against the company for violating federal securities law, with market makers and traders leaving the exchange due to concerns about potential asset lock-ups.