Binance's spot volume is once again surpassing all other exchanges combined, solidifying its position as the most dominant platform in the cryptocurrency market. Currently, Binance's volume is an impressive eight times larger than that of Coinbase, demonstrating its superiority in market share.
Even with an overall decline in aggregated spot volume across exchanges, Binance continues to lead, reaffirming its importance as the primary global trading hub. When Binance recorded a higher volume than all other exchanges combined at the beginning of 2024, Bitcoin was reaching new all-time highs, a clear indication of the exchange's impact on liquidity and market behavior.
The Binance vs. Other Exchanges BTC Spot Volume Delta indicator is turning positive again, meaning Binance's volume is consistently outpacing that of other exchanges. The last time this happened was in January 2024, when Bitcoin was trading at around $42,000 and later surged to $73,000. Historically, when Binance stands out in spot volume, the market tends to exhibit a bullish bias over the following weeks.
Another interesting point is that at the beginning of 2024, Binance's volume was 19 times greater than Coinbase's. Currently, this difference has decreased to about eight times, which still reinforces Binance's significant leadership, considering that Coinbase is the largest exchange in the United States.
Written by joaowedson
