Euro-denominated trading accounts for around 1% of Binance's spot volume, according to CryptoQuant data, as the exchange faces uncertainty ahead of MiCA's July 1 deadline.
Euro-denominated trading accounts for only a small share of Binance's activity, as the exchange faces uncertainty over its European licensing prospects under the Markets in Crypto-Assets Regulation (MiCA).
Euro (EUR) trading accounts for around 1% of Binance's spot volume, CryptoQuant analyst Maartunn told Cointelegraph.
“Binance's inflows remain globally distributed, which may limit the impact of potential MiCA-related setbacks,” Maartunn said, pointing to the exchange's diversified user base across regions.
The data comes as Greek regulators are reportedly preparing to reject Binance’s licensing application ahead of MiCA’s transitional deadline on July 1, a move that could complicate the exchange’s ability to serve EU residents.
Even though EUR trading represents only about 1% of Binance's global spot volume, the exchange still processes hundreds of millions of dollars in euro-denominated trades.
According to CryptoQuant data, Binance's daily EUR-pair volumes have ranged from roughly $100 million to $250 million in 2026, with occasional spikes above $600 million.
According to a December 2024 report by Kaiko, Binance, alongside Bitvavo, Kraken and Coinbase, accounted for more than 85% of all euro-denominated crypto trading volume.
Related: WhiteBIT secures MiCA license in Austria ahead of July 1 EU deadline
Unlike Binance, Bitvavo, Kraken and Coinbase are among the major exchanges that have already secured MiCA authorization, allowing them to offer services across the EU under the framework's passporting regime.
Binance's licensing uncertainty comes as many crypto asset service providers (CASPs) are still adapting to MiCA's requirements.
According to estimates based on European Securities and Markets Authority (ESMA) data cited by market analyst Merlijn Geurds, only around 210 of more than 1,200 firms operating under pre-MiCA registration regimes have obtained full authorization under the new framework.
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