Trading volumes on centralized exchanges have fallen to their lowest levels in more than four years amid mounting regulatory pressure<\/a> from United States regulators and lawmakers.<\/p>\n According to a June 7 reports<\/a> from crypto analytics firm CCData, combined spot and derivatives trading volume in May fell 15.7% from the previous month, marking the second consecutive month<\/a> of dwindling crypto trading activity. <\/p>\n As the data is only current to the end of May, it does not take into account any potential impact from the recent SEC lawsuits against Coinbase or Binance. <\/p>\n CCData shows that of all the major firms to suffer a decline in trading volumes, Binance was hit the hardest.<\/p>\n In May, Binance gave up even more of its total market share, falling to just 43% overall, down from its peak of 57% in February. This marked the third consecutive month that Binance’s total market share declined. <\/p>\n The report said this bulk of this decline can be attributed to Binance removing zero-fee trading for USDT pairs but noted the exchange was no doubt feeling the squeeze of increased scrutiny<\/a> from regulators in the US <\/p>\n The largest beneficiaries of Binance’s market share slide were crypto exchanges Bullish, Bybit and BitMEX which each gained a little more than 1% in market share between March and May.<\/p>\n On June 5, the sec sued binance<\/a> and its CEO Changpeng Zhao for failing to register as a securities exchange and for offering unregistered securities. Within 24 hours the net outflows from Binance<\/a> topped $778 million, although the company has assured the public that their assets remain safe.<\/p>\n In the 48 hours following, the median trading volume<\/a> across the top three decentralized exchanges (DEX) jumped 444%.<\/p>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2023-06\/76512a7f-09bd-4fb6-acd1-4f82788e4870.png\"\/)