CZ of Binance Says Binance.US Trading Volume Reached 41% of Coinbase’s Global Volume Last Week
According to reports, CZ, the CEO of Binance, a crypto trading platform, said that the weekly trading volume of Binance. US (excluding Binance) reached a record high of 41% of Coin
According to reports, CZ, the CEO of Binance, a crypto trading platform, said that the weekly trading volume of Binance. US (excluding Binance) reached a record high of 41% of Coinbase (Global) last week.
CZ: Binance.US Last week’s trading volume hit a record high
Introduction
Recently, Binance CEO Changpeng Zhao, commonly known as CZ, announced on Twitter that Binance.US had reached a remarkable milestone in terms of weekly trading volume. According to him, the trading volume of Binance.US (excluding the main platform Binance) hit an all-time high of 41% of global trading giant Coinbase’s volume last week. This is a significant achievement for the young crypto trading platform, and in this article, we will explore what it means for the industry and Binance.US.
Why is This Significant?
Binance.US is a relatively new US-based cryptocurrency exchange launched in 2019, just two years ago. Therefore, CZ’s statement about the platform’s trading volume reaching 41% of Coinbase’s global volume in just two years is significant. Coinbase is a well-established crypto trading platform founded in 2012 and is a popular choice among investors in the US and worldwide.
The exponential growth of Binance.US’s trading volume is a clear indication of the platform’s increasing popularity among US investors. It also reflects the growing demand for cryptocurrencies in the US market. Additionally, it’s a testament to Binance’s efficiency in providing users with a reliable and secure platform to trade cryptocurrencies.
Factors Contributing to the Rise in Binance.US’s Trading Volume
There are several factors contributing to the remarkable growth in Binance.US’s weekly trading volume. Firstly, the platform’s transparent fee structure and quick transaction speeds have been instrumental in winning over users. Additionally, its wide range of cryptocurrencies listed has made it easier for investors to diversify their portfolios, which is essential in the volatile crypto market.
Moreover, Binance.US’s partnership with Silvergate Bank has enabled it to provide users with an easy and safe way to deposit and withdraw funds. Silvergate Bank caters to several crypto-focused businesses, providing them with custom financial solutions. Binance.US’s partnership with Silvergate Bank ensures that users’ funds are secure and easily accessible.
Future Prospects for Binance.US
Binance.US has shown great promise and potential within a short period, and it’s expected to continue growing in the future. Its partnership with Silvergate Bank positions it well to compete with Coinbase, which has been criticized for its high fees.
Furthermore, CZ’s statement about Binance.US’s growth comes at a time when crypto regulations in the US are becoming clearer. This clarity is expected to draw more investors into the market, which is a positive sign for Binance.US. With the platform’s track record in providing secure and efficient services, it’s poised to attract new users looking to invest in cryptocurrencies.
Conclusion
Binance.US’s trading volume reaching 41% of Coinbase’s global volume last week is a significant achievement. The announcement by CZ highlights the platform’s increasing popularity among US investors and its potential to be a world-leading crypto exchange. The transparent fee structure, quick transaction speeds, and extensive list of cryptocurrencies offered on the platform are key factors driving its growth. Therefore, Binance.US is set to remain a formidable competitor in the US crypto trading market, and investors should keep an eye on its future developments.
##FAQs:
1. What is Binance.US?
Binance.US is a US-based cryptocurrency exchange platform launched in 2019.
2. What is Coinbase?
Coinbase is a well-established crypto trading platform founded in 2012 and is a popular choice among investors in the US and worldwide.
3. Why is Binance.US gaining popularity?
Binance.US is gaining popularity due to its transparent fee structure, quick transaction speeds, wide range of cryptocurrencies listed, and partnership with Silvergate Bank.
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