Binance dominates the crypto market as the main destination for altcoin deposits, consistently receiving the largest share of transactions—highlighting its position as the preferred platform for altcoin trading and liquidity among market participants. The exchange's dominance was most evident during the November–December 2024 altcoin rally, when Binance recorded peak daily inflows of 59K transactions, compared to 26K for Coinbase and 24K combined for other exchanges. Even during quieter periods, Binance continues to lead with ~13K daily transactions, while Coinbase sees ~6K and other exchanges around 10K. Altcoin inflow transactions to exchanges tend to spike following strong market rallies, signaling traders' intent to take profits, and often aligning with short-term price peaks or periods of heightened trader activity.
Binance also leads in Ethereum-based stablecoin inflows, receiving ~53K USDT/USDC transactions, ahead of ~42K for Coinbase, 28K for Bybit, and 11K for OKX. These figures reflect Binance’s strength in attracting dollar-denominated capital flows on the Ethereum network.
On the TRON network, inflow transactions are consistently led by Binance, which receives the largest share of USDT deposits—highlighting its central role in stablecoin-based trading and liquidity provision. For example, Binance has received 384K transactions of USDT in the last seven days, while Bybit and HTX follow as the next most active platforms, with 321K and 163K USDT inflow transactions. Stablecoin inflow dominance signals where capital is being positioned to take action, and the exchange leading this trend often benefits from increased volume, and institutional and retail confidence.
Written by CQ Research
