CandleFocus Binance Exchange Reserves Hit Record 25% as Top-Tier Exchanges Dominate Market
2024-11-13
Author: Content Editor
The leading cryptocurrency exchange, Binance, has reached a new all-time high in reserves with 25% of total cryptocurrency reserves. This highlights Binance's dominance in the sector, with only Coinbase having higher reserves at 33%. Binance and Coinbase both saw significant stablecoin inflows after Donald Trump's presidential victory, with $4.3 billion flowing to Binance and $3.4 billion to Coinbase. These influxes have historically coincided with bullish market rallies. Top-tier exchanges make up only 20% of spot exchanges but capture over 60% of the total trading volume, with Binance leading with an average monthly volume of $472 billion. Stablecoin inflows have fueled trading volume growth, and Bitcoin recently reached a new all-time high of $90,000.
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