According to data provided by CCData, as of December, Binance's market share in the cryptocurrency spot trading market was only 30.1%, compared to 55% at the beginning of the year. From January to September, the exchange's monthly spot trading volume decreased by more than 70%, from $474 billion to $114 billion.

Despite the decline in Binance's market share in the spot trading market over the past year, it still leads several top cryptocurrency exchanges by a large margin. According to CCData, OKX, located in Seychelles, ranks second only to Binance, with its market share increasing from around 4% at the beginning of the year to 8% in December.