Over the past two months, cryptocurrencies have been in the correction mode, as the volume of immediate trading of BTC and Altcoins has decreased by tens of billions of dollars.
Despite this immediate diving, the largest exchange of encryption in the world, Binance, continued to lead other platforms, with an increase in their instant size by the end of the first quarter.
Binance leads the immediate size market
According to a report From Cryptoquant in the analytical series, Bitcoin’s immediate trading volume fell on the stock exchanges from $ 44 billion on February 3 to $ 10 billion by the end of the first quarter. Likewise, the total trading volume in Altcoin fell on encryption trading platforms from $ 122 billion to $ 23 billion during the same period.
While the total local trading volume decreased in general, Binance opinion More trading activity compared to other encryption exchanges. This indicates that trading volumes on other stock exchanges have decreased much faster than Binance and that the world’s leading encryption platform has become the largest place to liquidity during periods of high market fluctuations.
From February 3 to the end of the first quarter, the Binance share of the total trading volume of Binance spot increased from 33 % to 49 %, while Altcoins increased from 38 % to 44 %. Binance now represents approximately 50 % of the total trading volume of encryption.
The largest liquidity place during fluctuation
Based to the claim that Binance becomes a place for the largest trading trading in times of high fluctuations, Cryptoquant revealed that the scale trading volume of the stock exchange exceeded all other platforms combined between 24 and 26 February, when BTC decreased from 96,000 dollars to 90,000 dollars.
Bitcoin’s decrease during these two days led to a significant correction in the encryption market, which affects other coins; However, the Bennes spot trading volume increased to 64 %, adding a total of $ 18 billion.
In addition, Cryptoquant discovered that some altcoins showed relatively high trading sizes despite the total market correction. Market participants trade large -sized assets such as Binance Coin (BNB), Toncoin (TON), and EOS (EOS) with relatively high activity on Binance, regardless of low encryption sizes.
Meanwhile, Binance plans to cross out Many altcoins on April 16, including Badger (Badger), BALANCER (BAL), Beta Finance (Beta), Cream (Cream), Cortex (CTXC), Aelf (Elf), Firo (Firo), and Kava Lind (hard). The deletion follows a collective decision by users by voting the stock market on the decisive mechanism.
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