Bitcoin (BTC) reaches $138,000 on Binance US, here's likely reason BTC $BTC
Market depth is a term used to describe how liquid a financial market is. According to a Kaiko analysis, Binance.US's market depth has decreased compared to May, indicating that market makers and traders have left the exchange.
The market share of Binance.US has decreased in comparison to other exchanges accessible to customers in the United States, falling to 1.5% from 8% at the beginning of this year, according to a report published on Tuesday by Kaiko. The study also reveals a reduction in Coinbase's market share, the largest cryptocurrency exchange in America, from 56% to 50.5%.Binance.US trading volume declines
Trading volume on Binance.US has been dropping since June 6, the day after the SEC announced charges against Binance and its CEO, Changpeng"CZ" Zhao. data, the US-based exchange reported a trading volume of almost $250 million on June 6. This has fallen by nearly 94% to just over $13 million, marking the lowest trading volume in almost a year.
After a U.S. district judge approved a consent order, Binance and the United States Securities and Exchange Commission came to an arrangement to prevent a full asset freeze on the platform and preserve customer assets there.
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