Binance has achieved a new milestone that strengthens its position in the crypto market, as trading volume exceeded $100 trillion, according to its CEO Richard Teng.
Ting shared these numbers on social media, noting that this historic figure puts Binance in an exceptional position, outperforming many global financial benchmarks, including the market cap of the S&P 500.
This achievement is considered twice the market value of the main index of the US stock market, which enhances Binance’s leadership in the digital currency market, and highlights its ability to outperform its competitors, as it maintains performance levels that are difficult for others to match.
Binance Coin, or BNB, is the native cryptocurrency of the Binance platform, and was created using the ERC20 standard on the Ethereum blockchain, to support trading operations on the platform and provide features such as reduced fees for traders.
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BNB is the third largest cryptocurrency by market value, after Bitcoin and Ethereum, ahead of currencies such as Cardano, which shows the strength of the Binance platform and its enormous potential in the cryptocurrency market, making investing in its currency a promising option for traders.
Historic achievement
Binance began its journey in 2017 when it was founded by Changpeng Zhao (known as CZ). The company quickly gained momentum thanks to its simple interface and attractive fee structure. After successfully raising $15 million through an initial coin offering (ICO) in the same year, Binance invested this funding into massive growth and international expansion.
Despite the major challenges it faced, such as the hack and theft of 7,000 Bitcoins, regulatory scrutiny from global authorities, and a $4 billion fine, Binance continued to grow and was not affected even by the arrest of founder CZ, reflecting the company's resilience and ability to adapt.
Trading volume
Currently, Binance's daily trading volume is around $13 billion, which is lower than usual, but still 8 times larger than its closest competitors, confirming its position as one of the major players in the global market, and its continued push of the boundaries of the cryptocurrency industry to new heights.
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Binance Coin Supported Wallets
Binance Coin can be stored in several electronic wallets and devices, including:
Trust Wallet (Official Wallet)
Wallet Engine
Ledger Wallet
Trezor Wallet
Jaxx
CoolWallet P
And other well-known wallets
