Euro-denominated buying and selling accounts for less than a small share of Binance’s exercise, because the alternate faces uncertainty over its European licensing prospects underneath the Markets in Crypto-Belongings Regulation (MiCA).
Euro (EUR) buying and selling accounts for round 1% of Binance’s spot quantity, CryptoQuant analyst Maartunn informed Cointelegraph.
“Binance’s inflows stay globally distributed, which can restrict the influence of potential MiCA-related setbacks,” Maartunn mentioned, pointing to the alternate’s diversified consumer base throughout areas.
Supply: CryptoQuant
The info comes as Greek regulators are reportedly getting ready to reject Binance’s licensing utility forward of MiCA’s transitional deadline on July 1, a transfer that might complicate the alternate’s means to serve EU residents.
Binance ranks amongst Europe’s largest crypto exchanges
Despite the fact that EUR buying and selling represents solely about 1% of Binance’s international spot quantity, the alternate nonetheless processes a whole bunch of hundreds of thousands of {dollars} in euro-denominated trades.
In response to 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 response to a December 2024 report by Kaiko, Binance, alongside Bitvavo, Kraken and Coinbase, accounted for greater than 85% of all euro-denominated crypto buying and selling quantity.
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In contrast to Binance, Bitvavo, Kraken and Coinbase are among the many main exchanges which have already secured MiCA authorization, permitting them to supply providers throughout the EU underneath 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 response to estimates primarily based on European Securities and Markets Authority (ESMA) knowledge cited by market analyst Merlijn Geurds, solely round 210 of greater than 1,200 companies working underneath pre-MiCA registration regimes have obtained full authorization underneath the brand new framework.
Supply: Merlijn Geurds
Geurds informed 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 pressured migrations or cutoffs.”
Cointelegraph contacted Binance for touch upon the dimensions of its European enterprise and the potential influence of MiCA-related restrictions however had not acquired a response by publication.
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