From the recent Nobitex incident and various exchange security events in the past, for ordinary retail investors, it is best to choose leading exchanges for daily use, as the safety of funds is always the primary consideration. Madam, you wouldn’t want your coins to be stolen, would you?
Currently, Binance is widely recognized as the leading comprehensive exchange in the market. From the data perspective, this is indeed the case:
1️⃣ Spot market share hits a 12-month high: The Block's market share tracking data shows that Binance's current spot market share has risen to the highest level in the past year.
2️⃣ BTC & ETH trading volume continues to increase: Binance currently accounts for about 45.6% of BTC spot trading volume, and the share of ETH spot trading volume has consistently remained around 50%.
When the tide goes out, you can not only see who is swimming naked but also who is wearing the most attractive swimsuit. In the current context of a decline in overall market trading activity, having such data indicates that, on one hand, Binance has strong user stickiness, and on the other hand, it suggests that other exchange users may choose Binance to avoid risks.
Fundamentally, Binance is able to continuously lead the market. Discounting other operational factors and market activities, the safety of Binance remains the most important aspect attracting users.
Data released by CryptoQuant on June 3 shows that Binance currently holds 59% of the USDT and USDC reserves among centralized exchanges, having the largest stablecoin reserves among all centralized exchanges. Stable and transparent reserves are always a critical point valued by users after FTX.
In addition, the Alpha activities have indeed attracted and converted many users from other chains or exchanges into Binance users. Balance points and trading volume points represent two forms of conversion: one for capital retention and the other for operational habits. Once you have funds on Binance and have gotten used to its operations, it is hard not to continue using Binance.
A grain of sand in the era, when it falls on an individual, becomes a mountain. If one has experienced the torment of FTX, despite the unsatisfactory final outcome, the agony during the process is something no one wants to go through again. Always remember, "fund safety" is more important than "earning an extra 10%."