Binance Trading Volume Hits Historic Milestone of $100 Trillion – What Impact Does This Have on BNB
Contributor
- Binance’s trading volume has skyrocketed to an unprecedented $100 trillion.
- Recent market indicators suggest that BNB is experiencing a favorable sentiment.
As reported by CCData, Binance has achieved a remarkable milestone, becoming the first centralized exchange (CEX) to surpass $100 trillion in trading volume. This figure encompasses both derivatives and spot markets.
Source: CCData.
This monumental growth positions Binance far ahead of its competitors, highlighting its extensive reach and the influx of capital into the cryptocurrency space.
OKX and other exchanges are also witnessing substantial growth. As the second largest exchange, OKX follows with an impressive trading volume of $25 trillion.
In third place is Bybit with a trading volume totaling $13.2 trillion, while Bitget trails closely behind at $10.9 trillion.
The native coin of Binance, BNB, continues to rise in popularity as the company expands its influence in the market.
A slight dip was observed in BNB’s price chart recently; currently it trades at around $595—a 0.30% decrease from yesterday’s prices. Nevertheless, BNB shows a weekly uptrend with an increase of 3.63%, along with a month-to-date gain of 3.42%.
Despite this daily decline, Binance benefits from prevailing positive market sentiment.
Source: Coinglass
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At press time, data reveals that BNB’s long/short ratio stands at 1.3079 on a 4-hour timeframe—indicating that most investors have been favoring long positions recently.
Long positions dominate as traders anticipate rising prices shortly.
Total liquidations have notably decreased over this past week:
Liquidation levels for long positions dropped significantly from $3.77 million down to only $14.37k over three weeks—a clear sign that longs are compounding shorts amidst ongoing market volatility.
“Read our detailed analysis predicting Binance Coin [BNB] Price for 2024-2025.”
With such news headlines about fundamental developments surrounding how highly successful exchanges adapt during
market movement transitions noticing what creates value versus adverse conditions—the evident surge towards record volumes means more high probability setups if trends remain intact.”
Thus far… Given current trends persisting further into supply zones through increased investor betting? **Expect potential upside near pivotal resistance** around **$618** coming up next!
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