As a global powerhouse in the realm of cryptocurrency, Binance had a remarkably productive start to the summer. Binance According to the latest data from platforms like CryptoCompare and CoinGecko, Binance reported staggering volumes in June and May, setting consecutive records in its relatively short history.
That reality was highlighted in a July 8th Twitter thread by Larry Cermak, Director of Research at {-{em}-}The Block{-{/em}-}, who noted the Malta-based exchange’s “reported traded volume in May and June ($125 billion) was higher than in the previous four months combined.”
Before the recent bullish trends, Binance's peak activity was once in early 2018, when trade volumes surpassed $40 billion.
The impressive trading increase not only underscores Binance's enduring popularity but also highlights its meteoric rise since its inception in late 2017.
1/ Binance just had its best month in its existence; surpassing $60 billion of reported traded volume in June. The reported traded volume in May and June ($125 billion) was higher than in the previous four months combined. pic.twitter.com/AzRPX3c6oU
— Larry Cermak (@lawmaster) July 8, 2019
To grasp Binance's accelerated growth, consider that their recent monthly volume represents a 200% increase compared to December 2017's peak during the last bull market.
In essence, Binance's ascent seems to be gaining momentum. However, Cermak's analysis suggests potential usage declines might be on the horizon.
Intriguingly, Binance has plans to roll out a US-based platform soon, expanding its reach even further. phases out American traders from Binance.com this fall.
On July 9th, the influential exchange announced a #BinanceTurns2 social media campaign.
Binance Celebrates Turning Two
With Binance's birthday approaching on July 14th, the firm aims to celebrate with its loyal trading community. announced The Binance team emphasized the integral role of its community since the start and plans to honor them through anniversary giveaways.
Participants need to share their personal 'Binance story' on social platforms to enter for a chance to win exclusive merchandise, Binance Coin, or a Yubikey.
Such community-focused initiatives reflect why Binance has swiftly earned a top spot in the crypto world.
Binance is planning to dive deeper into the crypto market by introducing its own futures trading platform.
Already boasting its blockchain and decentralized exchange, Binance is now eying futures trading as its next venture.
During the Asia Blockchain Summit, CEO Changpeng Zhao revealed Binance's upcoming crypto futures services.
Zhao mentioned that although a launch date isn’t finalized, a simulation test for the service would be available shortly. cryptocurrency futures .
This service, offering up to 20x leverage, will allow Binance users additional avenues for speculative and hedging activities.
Binance's bustling activity indicates its continued dominance and ever-growing plans in the crypto space.
Professional writer William M. Peaster, known for his work on Ethereum and Bitcoin, keeps up with the evolving crypto landscape. margin trading functionalities last month.
Dojima Network aims to lay the groundwork for a genuinely interoperable Web3 environment. likely be busier yet if its uptrend continues.
