Binance is the world's largest crypto exchange by trading volume, with $76 billion daily trading volume on Binance exchange as of August 2022, and 90 million customers worldwide. The platform has established itself as a trusted member of the crypto space, where users can buy, sell and store their digital assets, as well as access over 350 trading pairs, including spot, margin, futures and options markets.
One of the sources that provide Binance trade volume charts is CoinCarp, a website that tracks and analyzes crypto market data. CoinCarp offers various charts and indicators that show the trends and patterns of Binance's trading activity, such as volume, liquidity, volatility, dominance and market share.
According to CoinCarp, Binance's total trade volume in the past 24 hours was $67.8 billion, which accounted for 24.4% of the global crypto market volume. The top three trading pairs by volume on Binance were BTC/USDT ($9.8 billion), ETH/USDT ($6.9 billion) and BNB/USDT ($3.4 billion). The most liquid pair was BTC/USDT.
CoinCarp also shows that Binance's trade volume has been increasing steadily over the past year, reaching a peak of $149.6 billion on May 19, 2021, when the crypto market experienced a major crash. Since then, Binance's trade volume has fluctuated between $40 billion and $100 billion per day, reflecting the volatility and uncertainty of the crypto market.
One of the factors that may have contributed to Binance's high trade volume is its native token, BNB, which is used to pay for fees, access exclusive features, and participate in various events on the platform. BNB has also seen a significant price appreciation over the past year, reaching an all-time high of $686.31 on May 10, 2021. As of April 25, 2023, BNB was trading at $542.67, with a market cap of $84.7 billion and a dominance of 4.1%.
Another factor that may have boosted Binance's trade volume is its innovation and expansion in the crypto industry. Binance has launched several products and services that cater to different needs and preferences of its users, such as:
Binance Smart Chain (BSC), a blockchain network that supports smart contracts and decentralized applications. BSC has attracted many developers and projects that seek fast transactions and low fees, such as PancakeSwap, BakerySwap and Venus. BSC has also enabled cross-chain interoperability with other blockchains, such as Ethereum and Polygon.
Binance Earn, a platform that offers various yield-generating products, such as savings accounts, staking pools, liquidity mining and launchpool. Users can earn passive income by depositing their crypto assets into these products and receive rewards in different tokens.
Binance NFT, a marketplace that allows users to create, buy and sell non-fungible tokens (NFTs), which are unique digital assets that represent art, music, games, collectibles and more. Users can also access exclusive NFT collections from celebrities, artists and brands on Binance NFT.
Binance Card, a debit card that enables users to spend their crypto anywhere Visa is accepted. Users can link their Binance account to their card and choose which crypto they want to use for payment. The card automatically converts the crypto to fiat currency at the point of sale.
In conclusion, Binance is a leading crypto exchange that has achieved remarkable growth and success in terms of trade volume and market share.
Source: https://www.coincarp.com/exchange/binance/
