Binance going down?

[p3ppymon]

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/

[Classica35]

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.

[CopMom]

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.

[Jr.]

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...

[mostcrack]

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.

[CryptoAllDay]

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.

[Gabali126]

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.

[bitkanu]

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/

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.

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.

[Lorence.xD]

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

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.

[Cointoli]

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.

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.

[richminded]

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.

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.

[ElenaN]

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

[soooulliv77]

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.

[haidangtp]

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

[DikkieD]

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.

[anhkhoavba79@gmail.com]

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

[Dmcuibap]

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

[EzatorFI]

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/

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.

[nikotengik]

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

[aligator2017]

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