The post  Binance’s spot volume outpaces all other exchanges combined appeared on BitcoinEthereumNews.com.

BNB has declined by 3.5% over the past week. Binance’s spot volume outpaces all other exchanges combined. While the crypto market has experienced a sustained period of uncertainty, Binance’s market dominance has continued to rise. According to analyst Joao Wedson, Binance’s spot volume has surpassed all other exchanges combined. It’s currently 8x larger than Coinbase, demonstrating its superiority in market share. Even though spot volume has declined across exchanges over the past two months, Binance’s dominance continues to rise. Source: CryptoQuant At the start of 2024, Binance’s trading volume exceeded that of all other exchanges combined, highlighting its significant influence on liquidity and market dynamics. For example, in January 2024, as Binance’s volume surged past its competitors, Bitcoin’s price skyrocketed from $42,000 to $73,000 within weeks. Similarly, Binance’s native coin, BNB, experienced remarkable growth, rising from $335 to $645 during the same period. Source: CryptoQuant Historically, Binance’s strong performance in spot trading volume has often signaled a bullish market trend in the weeks that followed. The Binance vs. Other Exchanges BTC Spot Volume Delta indicator is once again positive, suggesting a potential bullish outlook in the coming months, despite a decline in overall aggregated spot trading volume. Any impact on BNB? Despite the rising dominance, the market is yet to turn bullish for Binance Coin [BNB]. In fact, BNB investors, both large entities and retail, remain bearish. The recent sale of 10,850 BNB tokens, valued at $6.51 million, by Gnomelabs provides the first indication of this sentiment. Onchain data reveals that Gnomelabs has deposited a total of 76.37 million USDC into Binance and Bybit. Source: Coinalyze When such a large holder turns to selling, it shows a lack of market confidence, reflecting bearish sentiments. Looking further, a negative futures basis validates strong bearishness. When the futures basis turns negative, it…

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Filed under: News - @ March 31, 2025 6:26 pm