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.

The cryptocurrency market faces significant risks due to overvaluation and the centralization of token ownership, according to a recent report from Binance. The report warns that if these challenges are not addressed,

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%.

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.

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.