TRUMP’s trading volume conquers both CEXs and DEXs
The post TRUMP’s trading volume conquers both CEXs and DEXs appeared on BitcoinEthereumNews.com.
Just four short days after its launch, TRUMP has become one of the most actively traded coins across both centralized and decentralized exchanges. With its high liquidity and trading volume, it has positioned itself at the forefront of the market, banking on the controversy and memecoin frenzy that has swept the crypto industry. Centralized exchanges, the liquidity powerhouses for TRUMP TRUMP established a strong foothold on centralized exchanges, particularly on Binance. Thanks to the exchange’s popularity and ease of access, the TRUMP/USDT trading pair has become the third-largest market by volume. Over the past 24 hours, this pair recorded a staggering $3.11 billion in trading volume, accounting for over 9% of Binance’s total activity. This is no small feat, especially considering the dominance of Bitcoin pairs like BTC/USDT and BTC/FUSD. Spot Markets on Binance # Coin Pair Price Spread +2% Depth -2% Depth 24h Volume Volume % 1 Bitcoin BTC/FDUSD $104,884 0.02% $7,354,256 $7,309,560 $4,295,024,880 13.05% 2 Bitcoin BTC/USDT $105,002 0.01% $18,743,946 $16,556,980 $3,716,523,983 11.29% 3 Official Trump TRUMP/USDT $41.89 0.02% $3,398,908 $2,783,969 $3,182,733,823 9.67% 4 USDC USDC/USDT $0.9993 0.02% $67,174,976 $69,943,077 $2,166,704,864 6.58% 5 Dogecoin DOGE/USDT $0.3642 0.01% $4,862,941 $5,513,991 $1,569,533,994 4.77% Data from CoinMarketCap showed that the TRUMP/USDT pair boasts a high liquidity score of 753, making it one of the deeper markets for traders. Liquidity, measured as the ability to execute large trades with minimal price impact, is critical for any asset. This score ensures traders can quickly enter and exit positions, as there is sufficient depth to avoid major price slippage. This is particularly significant given TRUMP’s price volatility, which had a daily range of $35.10 to $48.33. Screengrab showing the money flow analysis for the TRUMPUSDT pair on Binance on Jan. 22, 2025 (Source: Binance) Other centralized exchanges also saw high TRUMP trading activity. Bybit’s…
Filed under: News - @ January 23, 2025 8:21 am