The Block Data shows Binance @binancezh's spot market share reaches a new high in nearly 12 months

Binance's spot market share has reached a new high in nearly 12 months against the backdrop of a decline in overall market trading activity.

Among them, BTC & ETH trading volume remains strong: Binance currently accounts for approximately 45.6% of BTC spot trading volume, the highest level since July 2024, close to the historical high of 47.7% in June 2024.

This indicates that the Alpha strategy is still effective, bringing net growth to Binance's market share.

Although marginal utility has diminished, this layout will be retained in a positive cyclical state for the long term.

From a static perspective, after long-term use of a strategy, the positive external costs in the market may gradually rise. Once the future costs and benefits reach a balance, it will be necessary to push for new iterations; otherwise, net gains may turn negative.

Of course, from a dynamic perspective, it is likely that many attempts will be made by Binance before reaching balance. However, since these attempts may not always yield positive results, it is essential to prepare an innovative toolbox in advance, continuously conduct innovative market tests, and proactively release tools that show good testing results to maintain relative advantages without being disrupted. Just like an equipment development system, "develop one generation, reserve one generation, serve one generation."