The post Binance Breaks Record with $100T Trading Volume, BNB Price To Rally? appeared on BitcoinEthereumNews.com.

Binance cryptocurrency exchange has achieved a historic milestone by surpassing $100 trillion in combined spot and derivatives trading volume. This accomplishment reaffirmed its dominance and prompted speculation on the potential uptick in Binance Coin (BNB). As the central figure in the trading arena, the exchange’s trading volume signifies intensified interest in digital assets trading. Binance Hits Historic $100T Volume, Leads Crypto Exchange Market Binance has set a new benchmark in the cryptocurrency market by becoming the first centralized exchange (CEX) to exceed $100 trillion in cumulative trading volume. This achievement solidifies Binance’s position as the global leader in crypto trading, outpacing all other crypto exchanges.  The volume includes spot and derivatives markets, reflecting the platform’s extensive reach and the capital flowing into the crypto sector. Moreover, OKX is the second-largest exchange, with a lifetime trading volume of $25 trillion. OKX continues to enhance its services to maintain competitiveness. Interestingly, despite its collapse in November 2022, FTX still holds the position of the sixth-largest exchange by cumulative volume.  The defunct platform secured this ranking based on the significant trading volume it commanded before ceasing operations. The lingering presence serves as a reminder of the volatility and risks associated with digital asset exchanges. In addition, other exchanges, such as Bybit and Bitget, have been steadily gaining ground, ranking third and fourth, with trading volumes of $13.2 trillion and $10.9 trillion, respectively. These platforms gained attention through a combination of enhanced user experiences and diversified product offerings. Courtesy: CCData Market Expansion Through Mobile Money Across Africa Beyond its trading dominance, Binance has also expanded its services in Africa, integrating mobile money payments for cryptocurrency purchases in six new countries. This initiative allows users in Benin, Cameroon, Ivory Coast, the Democratic Republic of Congo, Togo, and Senegal to buy cryptocurrencies through mobile money services. …

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Filed under: News - @ October 19, 2024 4:17 pm