Binance is growing in popularity, which can be demonstrated through several different metrics. I have included the Exchange Reserve Percentage (Binance), a metric that shows the proportion of reserves held on Binance compared to all exchange reserves.
The percentage recently reached an all-time high of 25%. This percentage made a increase of around 4% over the past year, with Binance sitting at 21% in November 2023. While this growth might seem relatively small, there is only one exchange with a higher Exchange Reserve Percentage: Coinbase, with approximately 33%.
If this growth trend continues, Binance could soon challenge Coinbase in terms of holding the highest percentage of exchange reserves.
Written by maartunn