Coinbene, a Singapore-based exchange which recorded over $2bn of trading volume in the last 24 hours, and the Hong Kong-based exchange Bit-Z with a trading volume of over $1bn, have exceeded Binance with respect to the 24hr trading volume of just over $800m, according to CoinMarketCap.
Source : https://coinfrenzy.io/binance-trading-reported-low/I think that Binance now offers some of the best services in this market. With minimal commissions and convenient interface, it is difficult for anyone to compete with him. The recent drop in volumes is most likely due to the general downturn of the market.