Binance dominated the market, acquiring over half of the shares in Bitcoin trading. This increase occurred at a time when BTC reached new price records, attracting crowds of investors. The exchange not only maintained high volumes but also increased its share in altcoin trading. What lies behind this success, and how did Binance stand out from the competition?
Binance takes 52% of the Bitcoin market
In the second half of July, the cryptocurrency market experienced a true revival. Bitcoin reached an all-time high, immediately attracting investors' attention. During this time, Binance recorded a spectacular increase in its spot market share. Just before the record, this share was 39%. The day after the peak, it rose to 48%, and by July 18, it reached as high as 52%.
Such a result was the effect of a massive increase in trading volume. On July 13, the spot value for BTC on Binance was $3.1 billion. Just one day later, it jumped to $8.4 billion, representing an increase of 2.7 times. Interestingly, while other exchanges recorded declines the following day, Binance noted another increase to $8.8 billion.
The key to this success was high liquidity and a wide selection of trading pairs. This allowed investors to easily and quickly enter or exit positions. Such an advantage is invaluable during moments of dynamic price movements, when every second counts.
These numbers show that Binance is the place where traders head during times of highest market activity. Investor confidence stems from consistently providing the best trading conditions, as well as the ability to execute orders instantly even with huge volumes.
Binance's dominance in the altcoin market
The success of Binance was not limited to Bitcoin alone. During the period of record BTC listings, interest in altcoins also surged. On July 13, the spot volume for altcoins was $11.5 billion. With Bitcoin reaching its peak, it jumped to $20.4 billion, representing a 77% increase.
During this time, Binance's share in the altcoin market increased from 34% to 47%. Even several days after Bitcoin reached its peak, the exchange maintained its lead with a share of 49%. This is significantly more than its competitors – MEXC (10.4%), Bybit (8.1%), OKX (7.9%), or HTX (7.4%).
This result shows that Binance not only dominates in trading the largest cryptocurrency but also leads in the altcoin segment. The high market share in both segments indicates traders' trust in the platform, regardless of what they are trading.
Investors choose Binance because it provides them with stability and security in transactions. The platform can handle even a sudden increase in volume without issues related to liquidity or order execution. In the dynamic world of cryptocurrencies, such an advantage often determines profits.
Why investors choose Binance at key moments
When a lot is happening in the market, investors seek places that guarantee reliability. Binance has gained a reputation as a platform that can meet the greatest challenges. A wide range of cryptocurrencies, low fees, and access to advanced analytical tools are just some of the reasons traders are so eager to return here.
High liquidity ensures that even large transactions are executed without significantly impacting the price. This is especially important for large players who need instant order execution at minimal costs. Binance meets these conditions, which is why it attracts investors from all over the world.
Moreover, the exchange continuously invests in the development of its infrastructure. As a result, it can handle huge spikes in activity without downtime or delays. Consequently, during record market movements, Binance becomes the primary trading venue.
Looking at the results from July, it's hard to doubt that Binance maintains its position as a leader. In both the Bitcoin and altcoin segments, the exchange clearly outpaces the competition. If the trend of growing popularity of this platform continues, its market share may further increase in the coming months.