On the other hand, Binance is seeing a decline in Ethereum market share on its platform compared to previous years despite the rise in institutional trading. There has also been an increase in deposits from stablecoins such as Tether (USDT).

As for altcoins, some have made significant gains, such as Velodrome, which rose by more than 200% after listing on Binance.

If you are a day trader, experts advise to be wary of short-term volatility and focus on influential news such as plans for new regulations and laws.