随着审查的加剧和竞争对手的崛起，币安的全球规则崩溃

由于监管阻力和竞争加剧，币安在加密货币交易领域的全球主导地位正在减弱。过去一年，该交易所在比特币和山寨币交易中的市场份额大幅下降。导致币安失去主导地位的因素包括监管问题、具有成本效益的交易计划的终止以及势头强劲的小型交易所的崛起。

Binance's Global Market Share Dwindles Amidst Regulatory Scrutiny and Escalating Competition

由于监管审查和竞争加剧，币安的全球市场份额下降

Binance, the behemoth of the cryptocurrency exchange landscape, is facing an unprecedented erosion of its global market share as a confluence of factors chips away at its dominance. Evolving regulatory landscapes, intensifying competition, and a retreat from cost-effective trading strategies have coalesced to create a perfect storm for the exchange.

币安作为加密货币交易领域的巨头，由于多种因素的综合作用削弱了其主导地位，其全球市场份额正面临前所未有的侵蚀。不断变化的监管环境、日益激烈的竞争以及对具有成本效益的交易策略的放弃，这些因素共同为交易所带来了一场完美风暴。

A Diminishing Market Share

市场份额不断缩小

According to the acclaimed research firm Kaiko, Binance's share of Bitcoin trading has plummeted from a colossal 81.3% to a mere 55.3% over the past year. Similarly, the exchange's altcoin market share has dwindled from 58% to 50.5%. Kaiko analysts have ascribed this decline to the growing dispersion of offshore markets, empowering smaller local exchanges and eroding the market dominance of giants like Binance.

根据著名研究公司 Kaiko 的数据，币安在比特币交易中的份额在过去一年中从 81.3% 的巨大份额骤降至 55.3%。同样，该交易所的山寨币市场份额也从 58% 下降至 50.5%。 Kaiko 分析师将这种下降归因于离岸市场的日益分散，赋予了规模较小的本地交易所权力，并削弱了币安等巨头的市场主导地位。

Adding fuel to this market share hemorrhage is Binance's discontinuation of its customer-friendly free trade policy. This move has alienated traders seeking cost-effective platforms for their cryptocurrency transactions.

币安终止其对客户友好的自由贸易政策，加剧了市场份额的流失。此举疏远了寻求具有成本效益的加密货币交易平台的交易者。

Expanding Rivals

不断扩大的竞争对手

Beyond the United States, Binance's global presence is being challenged by a proliferation of international exchanges expanding their reach and capturing increasing market shares. Kaiko's research reveals that OKX's non-US Bitcoin trading volume has surged from 3% to 7.3% in the past year. Bybit has experienced an even more dramatic ascent, growing its share from 2% to 9.3%.

在美国之外，币安的全球影响力正面临着国际交易所激增的挑战，这些交易所不断扩大其影响力并占领越来越多的市场份额。 Kaiko 的研究显示，OKX 的非美国比特币交易量在过去一年中从 3% 飙升至 7.3%。 Bybit 的涨幅更为惊人，其份额从 2% 增长至 9.3%。

Regulatory Headwinds

监管阻力

Binance's regulatory woes have cast a long shadow over its global operations, further contributing to its market share decline. Last November, co-founder and former CEO Changpeng Zhao resigned from his leadership role amid guilty pleas to federal money laundering charges. Binance has faced accusations of commingling user funds, permitting US customers to trade illegally on its global platform, and turning a blind eye to illicit trades among VIP clients.

币安的监管困境为其全球业务蒙上了长长的阴影，进一步导致其市场份额下降。去年 11 月，联合创始人兼前首席执行官赵长鹏因对联邦洗钱指控认罪而辞去领导职务。币安面临混合用户资金、允许美国客户在其全球平台上进行非法交易以及对 VIP 客户之间的非法交易视而不见的指控。

These regulatory entanglements have raised concerns among authorities worldwide, prompting a cautious approach toward Binance. Last week, Dubai authorities finally granted Binance FZE, the exchange's local entity, a full Virtual Asset Provider (VASP) permit. However, this approval came only after Zhao agreed to relinquish voting control of the entity, a concession reportedly demanded due to the exchange's checkered regulatory history.

这些监管纠葛引起了世界各地监管机构的担忧，促使人们对币安采取谨慎态度。上周，迪拜当局最终向该交易所的本地实体 Binance FZE 授予了完整的虚拟资产提供商（VASP）许可证。然而，这一批准是在赵同意放弃对该实体的投票控制权之后才获得的。据报道，由于该交易所的监管历史错综复杂，因此要求做出让步。

South Korean Setback

韩国受挫

Binance's regulatory troubles have extended to South Korea, further eroding its global market share. In February 2022, the exchange acquired a majority stake in Gopax, a local crypto exchange grappling with operational challenges. Binance's attempted re-entry into the South Korean market, from which it had exited in January 2021, was met with regulatory headwinds. Binance reportedly plans to sell its Gopax stake and exit the market once again due to the unfavorable regulatory outlook.

币安的监管问题已蔓延至韩国，进一步侵蚀其全球市场份额。 2022 年 2 月，该交易所收购了 Gopax 的多数股权，Gopax 是一家正在应对运营挑战的当地加密货币交易所。币安试图重新进入韩国市场（该市场已于 2021 年 1 月退出），但遇到了监管阻力。据报道，由于监管前景不利，币安计划出售其 Gopax 股份并再次退出市场。

Asian Regulatory Crackdown

亚洲监管打压

Asian markets are witnessing a tightening of regulations for crypto services, with some regulations proving unpalatable for Binance. In Hong Kong, the HKVAEX exchange, launched in December 2022, has withdrawn its application to operate. Despite denying any connection to Binance, HKVAEX has been linked to the global exchange through joint appearances at crypto events and the use of Binance servers.

亚洲市场对加密货币服务的监管日益收紧，其中一些规定令币安感到不舒服。在香港，于 2022 年 12 月推出的 HKVAEX 交易所已撤回运营申请。尽管 HKVAEX 否认与币安有任何联系，但它已通过联合亮相加密货币活动和使用币安服务器与全球交易所建立了联系。

Withering Competitive Advantage

竞争优势日渐萎缩

Binance's slide in global market share has exposed the erosion of its competitive advantage. The exchange's once-unassailable dominance, built upon low trading fees and a vast user base, is being eroded by a combination of regulatory challenges, escalating competition, and a shift in market sentiment.

币安全球市场份额的下滑暴露了其竞争优势的削弱。该交易所曾经建立在低廉交易费用和庞大用户基础之上的无可争议的主导地位，正在因监管挑战、不断升级的竞争和市场情绪的转变而受到侵蚀。

As the cryptocurrency industry matures, regulators worldwide are imposing stricter rules and enforcement mechanisms, forcing Binance to navigate a complex and evolving regulatory landscape. Simultaneously, a host of exchanges are emerging, offering competitive trading fees, innovative features, and a focus on compliance.

随着加密货币行业的成熟，世界各地的监管机构正在实施更严格的规则和执行机制，迫使币安应对复杂且不断变化的监管环境。与此同时，大量交易所不断涌现，提供有竞争力的交易费用、创新功能并注重合规性。

Binance's decision to discontinue its free trade policy has further weakened its value proposition, alienating traders seeking cost-effective platforms. The exchange's regulatory troubles have also tarnished its reputation, making it a less attractive destination for investors and traders alike.

币安决定终止其自由贸易政策，进一步削弱了其价值主张，疏远了寻求高性价比平台的交易者。该交易所的监管问题也损害了其声誉，使其对投资者和交易者来说不再有吸引力。

Conclusion

结论

Binance's global market share is shrinking at an alarming rate, a trend that is likely to continue as regulatory scrutiny intensifies and competition escalates. The exchange's once-formidable competitive advantage is withering away, exposing its vulnerability to a changing market landscape. Unless Binance can address its regulatory challenges and adapt to the evolving competitive dynamics, its global dominance is likely to diminish further.

币安的全球市场份额正在以惊人的速度萎缩，随着监管审查的加强和竞争的加剧，这一趋势可能会持续下去。该交易所曾经强大的竞争优势正在消失，暴露出其在不断变化的市场格局中的脆弱性。除非币安能够解决其监管挑战并适应不断变化的竞争动态，否则其全球主导地位可能会进一步削弱。