Binance, once a dominant force in the cryptocurrency trading landscape, has experienced a significant decline in its market share. The platform's trading volumes decreased by more than 20% in September compared to the previous month, marking a considerable setback.

Meanwhile, rival platform Crypto.com has seen substantial growth, with its trading volumes surging over 40% during the same period. This shift highlights changing dynamics in the competitive crypto exchange space.

The data reflects a shifting landscape in the industry, where Binance's once unchallenged position is now facing increased competition and market fluctuation, as evidenced by Crypto.com's impressive growth.