In addition to its trading dominance, Binance has expanded its services in Africa. Integrating mobile payments in countries such as Benin, Cameroon, Ivory Coast, Democratic Republic of Congo, Togo, and Senegal has made buying cryptocurrencies more accessible. The initiative aims to increase financial inclusion by providing more accessible entry points into the digital economy across Africa.
BNB Price Prepares for a Bullish Momentum
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Binance, the cryptocurrency exchange, has reached a historic milestone by surpassing $100 trillion in total trading volume across spot and derivatives trading. This achievement solidifies Binanceâs market leadership while also potentially boosting the price of Binance Coin (BNB).
Market leader and trading volume
As the first exchange to reach $100 trillion in trading volume, Binance cements its position as the global leader in cryptocurrency trading. The total volume reflects the platformâs vast reach and the amount of capital flowing into the cryptocurrency space, surpassing other exchanges.
Expanding the market with mobile payments in Africa
In addition to its trading dominance, Binance has expanded its services in Africa. Integrating mobile payments in countries such as Benin, Cameroon, Ivory Coast, Democratic Republic of Congo, Togo, and Senegal has made buying cryptocurrencies more accessible. The initiative aims to increase financial inclusion by providing more accessible entry points into the digital economy across Africa.
BNB Price Prepares for a Bullish Momentum
Binanceâs increased trading volume and expansion of services have increased interest in the price of BNB. Currently trading around $600, BNB continues to show resilience in volatile markets. Analysts believe that a break of the $620 resistance level could lead to a surge to $800.
Over the past week, Binance Coin (BNB) has increased by 3.61% to $597.27. With a market capitalization of $87.16 billion, BNB's 24-hour liquidity is $1.48 billion.
Compared to other exchanges, OKX ranks second with a lifetime trading volume of $25 trillion. By continuing to improve its services, OKX is working to maintain its competitive edge. Despite its collapse in November 2022, FTX is still ranked as the sixth largest exchange.
Other exchanges such as Bybit and Bitget ranked third and fourth, with trading volumes of $13.2 trillion and $10.9 trillion, respectively. These platforms are notable for their improved user experience and diverse product offerings.
Reflecting the volatile nature of the financial industry, digital asset exchanges continue to face risks and uncertainties. Binanceâs achievement of reaching $100 trillion in volume demonstrates its strong market position and user confidence.
