CryptoQuant: Binance Exchange Leads Again in Spot Trading Volume
According to experts, this could be a positive signal for the crypto market. The last time this happened was after the launch of spot Bitcoin ETFs in January 2024, when the price of the leading cryptocurrency rose from $40,000 to $73,000 in a short period.
“Repeating this phenomenon usually indicates that large traders and market makers show strong interest in spot trading and choose Binance as their main trading platform,” reported CryptoQuant.
Experts believe this may indicate that even more capital from institutional funds is entering the market. This could strengthen the bullish trend of leading cryptocurrencies in the medium term.
Tracking such indicators is important, but currently they are still underappreciated, noted CryptoQuant. Investor optimism is gradually increasing, which positively affects the trading volumes of digital assets.
Previously, CryptoQuant experts reported that the volume of stablecoins on the largest centralized crypto exchanges reached an all-time high of $68 billion. The world’s largest exchange by trading volume, Binance, controls more than half of this — $44.2 billion (67%).
See also: "Crypto exchange Binance adds Ethena’s USDe stablecoin to its platform"
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