New data from blockchain tracker CCData show that the market share of the world’s largest crypto exchange slid to its lowest level in four years.

While Binance remains a giant in crypto trading, its volumes dropped over 20% in September versus the previous month, while rival Crypto.com's surged over 40%.

Binance’s rehabilitative efforts appear to be slow to take root, with the largest crypto platform’s share of trading volume in the roughly $2 trillion digital-asset market falling in September to the lowest level in four years.

Overall, Binance's combined market share dropped to 36.6%, the lowest since September 2020, although it remains the leader in global spot trading volume among centralized exchanges.

Binance's market share falls to a four-year low amid legal battles and market challenges, yet the exchange hits $100 trillion in lifetime trading volume.

In the derivatives market, Binance’s trading volume also dropped 21% to $1.25 trillion, hitting its lowest levels since October 2023. Binance now holds a 40.7% share of the derivatives market, the lowest it has been since September 2020. Overall, Binance’s combined market share in both spot and derivatives has fallen to 36.6%.

In September 2024, Binance saw a significant drop in trading volume. In a report by CCData, the platform has reported the least trading volumes in both the derivatives and the spot since December 2023.