EUR Trading Accounts for 1% of Binance Spot Volume: CryptoQuant

[Update June 23, 11:00 am UTC: Adds CryptoQuant data on EUR-denominated trading volumes and market share among major crypto exchanges.]

Euro-denominated buying and selling accounts for solely a small share of Binance’s exercise, because the change faces uncertainty over its European licensing prospects beneath the Markets in Crypto-Property Regulation (MiCA).

Euro (EUR) buying and selling accounts for round 1% of Binance’s spot quantity, CryptoQuant analyst Maartunn advised Cointelegraph.

“Binance’s inflows stay globally distributed, which can restrict the impression of potential MiCA-related setbacks,” Maartunn mentioned, pointing to the change’s diversified person base throughout areas.

Supply: CryptoQuant

The info comes as Greek regulators are reportedly preparing to reject Binance’s licensing application forward of MiCA’s transitional deadline on July 1, a transfer that might complicate the change’s capacity to serve EU residents.

Binance ranks amongst Europe’s greatest crypto exchanges

Although EUR buying and selling represents solely about 1% of Binance’s international spot quantity, the change nonetheless processes a whole bunch of hundreds of thousands of {dollars} in euro-denominated trades.

In accordance with CryptoQuant knowledge, Binance’s day by day EUR-pair volumes have ranged from roughly $100 million to $250 million in 2026, with occasional spikes above $600 million.

Supply: CryptoQuant

In accordance with CryptoQuant’s knowledge, Binance ranks second in EUR-denominated spot buying and selling quantity to this point in 2026, holding an 18.5% market share.

Kraken leads the market with 43.3% of whole EUR buying and selling quantity year-to-date, making it the most important change by share. Coinbase follows with 12.6%.

A 2024 report from Kaiko discovered that Binance, together with Bitvavo, Kraken and Coinbase, accounted for greater than 85% of all euro-denominated crypto buying and selling quantity.

Associated: WhiteBIT secures MiCA license in Austria ahead of July 1 EU deadline

Not like Binance, Bitvavo, Kraken and Coinbase are among the many main exchanges which have already secured MiCA authorization, permitting them to supply companies throughout the EU beneath the framework’s passporting regime.

83% of CASPs have but to obtain a MiCA license

Binance’s licensing uncertainty comes as many crypto asset service suppliers (CASPs) are nonetheless adapting to MiCA’s necessities.

In accordance with estimates based mostly on European Securities and Markets Authority (ESMA) knowledge cited by market analyst Merlijn Geurds, solely round 210 of greater than 1,200 companies working beneath pre-MiCA registration regimes have obtained full authorization beneath the brand new framework.

Supply: Merlijn Geurds

Geurds advised Cointelegraph the hole displays the fee and complexity of compliance, which requires governance requirements, compliance controls and operational safeguards that many smaller companies lack.

“The result’s consolidation by design,” Geurds mentioned, including: “A smaller group of well-capitalized, licensed gamers will get a passport to all 27 states, whereas an extended tail faces compelled migrations or cutoffs.”

Cointelegraph contacted Binance for touch upon the scale of its European enterprise and the potential impression of MiCA-related restrictions however had not obtained a response by publication.

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