🧐 From market data, the current status and future trends of cryptocurrencies｜Crypto assets are on the rise, and Binance remains the leader.
I noticed an interesting article just published by @TokenInsight:
Currently, multiple positive effects are overlapping in the market;
Factors such as the US presidential election, Bitcoin reaching an all-time high (ATH), and positive signals from the overall financial industry have jointly driven a surge in market activity.
Trading volume is also increasing significantly, with Binance #Binance holding a major position in various data comparisons, specifically in the following aspects:
1️⃣ Spot trading dominates the market.
From the beginning of the year to now, a notable feature of the Bitcoin market in 2024 is that
Spot trading dominates various trading activities; data shows that Binance's Bitcoin trading volume is 4.5 times the total trading volume of all Bitcoin ETFs.
As the absolute leader in Bitcoin trading, Binance's trading volume is 7 times that of Coinbase, and even equals the total of the last 14 competitors, including other centralized exchanges and DEX aggregators.
2️⃣ The trading volume of digital currencies exceeds that of the stock market｜Cryptocurrencies are increasingly prominent in the financial market.
In the past 30 trading days (from October 7 to November 15, 2024), Binance's total trading volume (spot + derivatives) significantly surpassed the data of major global stock markets.
- Binance's trading volume is 10% higher than that of Nasdaq.
- Binance's trading volume is twice that of the New York Stock Exchange (NYSE).
- Binance's trading volume is 16 times that of Coinbase.
- Binance accounts for about 50% of the global centralized exchange (CEX) trading volume.
3️⃣ USDT accelerates inflow into centralized exchanges.
During the week of the US presidential election, the total inflow of USDT into major exchanges exceeded $20 billion, with Binance leading with an inflow of $7.7 billion, followed by Coinbase with $4.3 billion and other exchanges with $6.5 billion.
From the USDT inflow data from November 1 to 19, Binance's market share is 39%, Coinbase is 23%, and other exchanges combined account for 38%.
Details of the Chinese report: https://tokeninsight.com/zh/news/as-crypto-assets-gain-ground-binance-maintains-market-leadership
