Binance's Spot Trading Share Plummets to 25%, Lowest in Four Years
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
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Source: Benzinga
- Spot Trading Share Collapse: Binance's spot trading market share plummeted from nearly 60% at its 2023 peak to 25%, indicating a structural shift in its position within the $3.2 trillion crypto market, which could impact its future competitiveness.
- Derivatives Market Share Halved: Binance's derivatives market share has decreased from nearly 70% to around 35%, and while it remains the largest centralized platform, this trend suggests a sustained erosion of its market dominance, potentially leading to revenue declines.
- Offshore Exchanges Capture Volume: The lost trading volume has not flowed to U.S. platforms but has been absorbed by offshore exchanges like Bybit and HTX, indicating a shift in market structure that could affect Binance's customer base and trading volume.
- Leadership Change Signals Reset: Binance's recent appointment of co-founder Yi He as co-CEO marks the biggest leadership shift since Changpeng Zhao stepped down two years ago, yet the ongoing loss of market share remains unaddressed.
Analyst Views on COIN
Wall Street analysts forecast COIN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for COIN is 400.63 USD with a low forecast of 266.00 USD and a high forecast of 510.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
22 Analyst Rating
15 Buy
6 Hold
1 Sell
Moderate Buy
Current: 239.280
Low
266.00
Averages
400.63
High
510.00
Current: 239.280
Low
266.00
Averages
400.63
High
510.00
About COIN
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides a platform that serves as a compliant on-ramp to the onchain economy and enables users to engage in a variety of activities with their crypto assets in both proprietary and third-party product experiences enabled by access to decentralized applications. It offers consumers their primary financial account for the cryptoeconomy; institutions a full-service prime brokerage platform with access to deep pools of liquidity across the crypto marketplace, and developers a suite of products granting access to build onchain. Its platform helps people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and global transfers. It offers products and services to various customer groups: individuals, businesses, institutions, and developers. Its transaction products consist of consumer trading, prime Trading, markets, base protocol and Coinbase wallet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
