Trading volumes at Binance soared to $1.12 trillion in March as BTC and ETH chased after new multi-year highs.
The spot trading volume of Binance exchange hit the highest level since May 2021, following seven consecutive months of ascent, according to a new report from CCData.
According to an April 5 report by cryptocurrency analytics platform CCData, Binance’s spot trading volume increased by 121% to $1.12 trillion in March. This is evidenced in its derivatives trading volumes, which have risen by 89.7% to $2.91 trillion, also achieving their highest levels since May 2021.made the largest gain in spot markets, increasing its market dominance by 2.3% compared with February. The exchange also saw the biggest gains year-to-date, now accounting for 38.
“This surge occurred as investors and traders speculated on the price action following Bitcoin’s approach toward a new all-time high in March.” This development highlights how much the public still trusts centralized exchanges despite recent failures such as FTX. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Bitcoin mining profitability won’t necessarily fall after halving
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