Bitcoin Forum

Coinbene, a Singapore-based exchange which recorded over $2bn of trading volume in the last 24 hours, and the Hong Kong-based exchange Bit-Z with a trading volume of over $1bn, have exceeded Binance with respect to the 24hr trading volume of just over $800m, according to CoinMarketCap.

Source : https://coinfrenzy.io/binance-trading-reported-low/

No way coinbene is doing $2 billion, they're using a lot of trading bots to push fake volume. Binance is still king.

Are you serious? I just checked on coinmarketcap as I type this comment and found that OKEX is on the top then next will be BINANCE. Those two are always leading the market trading volume. Check this out for yourself, simply CLICK HERE (https://coinmarketcap.com/exchanges/volume/24-hour/). That resources of yours maybe was just a hoax or might got a point somewhere when the the big player traders are lying on their beds. Im also a big fan of BINANCE and their trading platform is super secured and offers lot of bonuses or even great surprises.

That might be a case for some moment in a day. But overall coinbene and bit-z are much less in daily volume than binance and other popular exchanges.
Currently the number one is OKEX, Followed by binance, huobi and bitfinex while bit-z is at 12 and coinbene is at 25.

Coinbene wants to reach a certain height. It takes a lot of money. They issue a token named CONI. This is the first step in many junk exchanges. It will be the beginning of failure. Use BOT to increase false trading volume. The practice is stupid.
A great project requires core motivation. I believe they don't. It's a group of poorly motivated people who don't want to blindly participate in these projects. It doesn't make you rich, but it will let your wealth leave you. .

The market of Crypto currency is facing a problem now a day. From the beginning of the year, there is an existence of price declining. Up to now we are seeing that the prices of all the coins are slowing. So this is not a new thing that the Binance is getting low. But hope that the situation will change within a few months.

In case there are someone who still believes in the volume of the exchanges, take a look at one of several articles and research that are in the network about the manipulation of volume in most cryptocurrencies  https://cointelegraph.com/news/volumes-on-most-major-cryptocurrency-exchanges-are-fake-or-inflated-study (https://cointelegraph.com/news/volumes-on-most-major-cryptocurrency-exchanges-are-fake-or-inflated-study)

Nope, in that day coinbene have a new model of trading fee: user will receive the 100% transactions with Coni, the native currency of them, based percentage of Coni that user have in one hour with with total of user's Coni., which attracts more trader to use their Exchange to buy and sell crypto

Everything is working fine for me, they said that they were carrying out maintenance and warned about this, but for some reason many people took it as something very strange, I think that you do not need to worry.

For me, Binance is still the best exchange in the world. So, whether Binance goes down like I will always use and support Binance exchange.

You're talking about exchanges that I don't think are very popular. In my opinion, the most interesting and important exchange is poloniex. Believe it or not, there are a lot of living people. Yes bots are on all exchanges and it is clear why. This is done for artificial manipulation of the price. in second place, I can allocate Bitrix and then Binance

That's an interesting post. but as much as I know CoinmarketCap is doing just fine in the market. Maybe this is some kind of FUD.

Binance is #1 as always but it's a new trend now to make fake volumes on some exchanges to improve ranking on coinmarketcap's exchanges section, why?

Even binance that claims to the king does some funny and silly act, and their trading bots taught them a very good lesson when 20 sys was bought for 96 BTC, Then they locked down withdrawal claiming that they were hacked lol.

Everything everywhere recently seems funny.
Lets all be smart, play along and dont  be a victim.

Even if binance goes down, many people will see it as scope for having a good future through invest in it.

If it goes down many will chose decentralized exchanges just like what Vitalik said about centralized exchanges. He's starting to influence people with his ideas so basically many will follow his thought and believe on what he says. And for exchanges and it's competitors, it doesn't matter whether the volume goes down for 24 hrs, they are also dependent so it only means that traders aren't confident with it because they have few coins to choose unlike others.

The title of your thread is misleading, i thought that Binance is going to be shut down. With the launching of Coinbene and Bit-Z, i think it is favorable to the community since there would be competition on exchanges and this would result on the improvement of their services.

Binance is and will remain a trusted and reliable exchange so it doesn't matter for me if they are 1st, 2nd of 20th.

Agree with you buddy. The more exchanges that we have the more we can select as a user so we need not to worry since it will be our advantage with the opening of these two exchanges.

Binance is always king. Will check out what you said to be sure. But I doubt those two exchanges will overtake Binance

I did read somewhere that the fees in coinbene are given back in form of a native token to traders. It kind of mean zero fee trades. Hence, the high volume is justified by bots moving the price up and down. Even a small loss can result in a gain considering the rake back.

Source:
https://coingeek.com/bit-z-coinbene-see-trading-volumes-explode-new-fee-models/

This is my first time of seeing this and it is surprising. I think the market is becoming more competitive, not just for crypto projects alone, but also for exchanges. It is good to see some exchanges surpass the biggest ones, even if it is for a while. Others are gradually coming up.

If the news is real, then Binance will face huge damage due to server down. All transactions of cryptos will be interrupted, causing a lot of serious problems. And Binance is gradually losing confidence in the investors because of the recent explosion of cryptos, which is hugely damaging.

I read a lot that there is too much problem going on on Binance like there's a lot of missing coins in their wallet without transfer record and many more but I believe Binance group is doing something to fix this problem...

oh and it turns out Binance is still king for now, I do not see huge volumes in coinbene, Binance is still the best and best for now, being a confidence in successful users in trading, there will not be a very sharp decline, with no negative news about Binance not a big deal to deal with, very quick to solve the problem to be the best.

Just a small hiccup doesn't mean Binance is going to all of a sudden fall.  It's always been reliable and quick, same as Bittrex.  New competitors will rise but I don't see these proven exchanges going anywhere as their volume and trades probably bring in a ton of profit despite the decrease in volume.

This may be temporary. Sometimes it depends on the trading activities of a particular listed coin or token in an exchange. Before we can categorically conclude that Binance is going down, I think we should observe the trading volumes for at least 7 consecutive days. 24hrs is not enough for us to make our conclusion.

The binance exchange site is still leading the chart of top crypto exchange site with greater daily trade volume. Just because there was another exchange site that has already surpassed the daily trade volume of binance and then it makes binance will be goind down. This is just temporary i guess.

Market is Volatile, anything can happened at any given time, base on the market preview, some Coins are moving up slowly yet some coins are on the down stream price value on the market trading. Just look at the market status now, Bitcoin remains stable as posted on the market, while Benance is on the down stream. For me, it is always dependent on the trend, market structure, the behavior of investors, the level of confidence to the specific coin posted on the trading market. all of this can somehow affects the market price.

I still trade on Binance and I think it's over and Binance will know how to attract investors back. The fierce competition between the exchanges will be stronger as more and more new exchanges emerge with good and effective strategies to bring about the experience and attract investors.

They will always competition in this market, and if binance not improve their current system for sure they fall behind but of course it will not die. Binance is still a good exchange, there might be a hype on that new exchange and we will see in the coming months if those exchanges able to sustain that momentum.

BINANCE can not beat them, because on Binance there are no bots to bid!

I've heard that some exchanges cheat by increasing their trading volumes for the sake of ratings. I think that Binance a real leader in trading volumes.

This is not true. According to statistics on CMC, Binance is still more than Coinbene and Bit-z.

I don't think that is genuine volume, but they came a long way. If more money is put into crypto, most is bound to come from Asia. In the near future we'll have several more exchanges, all wanting a piece of the pie :). I don't think Binance will keep this traffic up for years to come, but for now they are the biggest by far.

I still prefer to trade on Binance because of its ease of use and low transaction fees.

Right now: yes. Many fud about binance and they hacked many times. But as i see, BNB token didnt go down much and still stable, maybe other exchange use fake vol

I think that Binance now offers some of the best services in this market. With minimal commissions and convenient interface, it is difficult for anyone to compete with him. The recent drop in volumes is most likely due to the general downturn of the market.

I think the down or rising volume in the market is reasonable. and if looking from the market binance itself I think just down temporarily. will be back up again

I think this doesn't matter that Binance is going down - maybe they decided to not to cheat the real trading volumes opposite to those exchanges that were in this article. Because I think Binance is still the best exchange both for whales and average traders

There's a lot of fake volume for sure. Same goes for CoinEx (https://coincodex.com/exchange/coinex/). There's loads of volume due to their token tho - CoinEx Token (https://coincodex.com/crypto/coinex-token/), it went quite on a bull run a few days back, but the volume keeps increasing.

Market competition is always good as it pushes the limit of company to provide its user better options. I think there should be no problem if Binance is stepped to 2nd or 3rd number with respect to trade volume as with the passage of time better companies will always come to overtake you if you don't provide better facilities. Binance may come to top again if they are able to attract more users.

Binance is still pretty much king in terms of volume. In case you've not noticed, Coinbene has been outed and their volume has shrunk back to normal. What  concerns me is the new Fcoin exchange that has been buzzing all of major crypto communities. Coinmarketcap.com records that Fcoin exchange has somewhere around $7B worth in trade volumes. That's like 7x greater than Binance's $1B. Binance closest rival for now is Okex.