Binance trading activity is 13x larger than any other exchange

[rendravolt]

I've been monitoring it for the last few weeks and its daily volume can reach $5 billion to $8 billion in a day. But what makes me confused is that bitcoin prices tend to be stable during that time. And it seems that there is only a pump and dump in the 1K usd difference for a day.

[Silberman]

I've been monitoring it for the last few weeks and its daily volume can reach $5 billion to $8 billion in a day. But what makes me confused is that bitcoin prices tend to be stable during that time. And it seems that there is only a pump and dump in the 1K usd difference for a day.

I do not think there is too much of a reason to be confused about this, bitcoin is now a very big asset which can manage that kind of volume, in fact the higher the volume of the asset the harder it is to move, just take a look at shitcoins, their volume is very low and their volatility is quite high so it is natural that we are seeing the opposite effect on bitcoin, also its volume is that high because there are a lot of traders using leverage and this artificially increases the volume that we see in bitcoin every day.

[rendravolt]

I've been monitoring it for the last few weeks and its daily volume can reach $5 billion to $8 billion in a day. But what makes me confused is that bitcoin prices tend to be stable during that time. And it seems that there is only a pump and dump in the 1K usd difference for a day.

I do not think there is too much of a reason to be confused about this, bitcoin is now a very big asset which can manage that kind of volume, in fact the higher the volume of the asset the harder it is to move, just take a look at shitcoins, their volume is very low and their volatility is quite high so it is natural that we are seeing the opposite effect on bitcoin, also its volume is that high because there are a lot of traders using leverage and this artificially increases the volume that we see in bitcoin every day.

Yes I understand what you are saying, but for me the volume can widen the gap between $1k to $5k from the current bitcoin price. If we go back in 2021 to a bull market we would know that $5 billion in volume was not small, it should have moved the price further than it is now.

[Bhig Daddy]

There are many options depending on your country and the amount of data you are willing to share. For example, Binance may be the best option if you can verify your identity, understand the fundamentals of trading, and have a sufficient balance. However, it is not the best option for order execution speed or no withdrawal limits. In general, all data is susceptible to manipulation unless there is an impartial third to accurately measure trading volumes.

[cheezcarls]

It is still the most popular exchange as of today, even for Filipinos like me. No matter if it’s spot, futures, P2P, etc., the trading volume was impressive and high. But of course, we cannot underestimate other exchanges though like OKX, KuCoin, Huobi, Gate and countless others.

For arbitraging purposes, these ones can be useful for potential profit minus the trading and withdrawal fees.

[SpringfieldSEO]

It seems like Binance API is used by various copy trading platforms. Something I'm exploring now in a project for my personal portfolio. See thread here: https://bitcointalk.org/index.php?topic=5415932

There is value in watching what successful traders are doing on Binance, but I'm not keen to execute my trades on the platform given KYC/AML bs

[ScamViruS]

I've been monitoring it for the last few weeks and its daily volume can reach $5 billion to $8 billion in a day. But what makes me confused is that bitcoin prices tend to be stable during that time. And it seems that there is only a pump and dump in the 1K usd difference for a day.

Everyone knows that Bitcoin price goes up and down. High volume means there might be someone accumulating and trying to hold an average price. Binance provides the best services to their traders, traders get enough liquidity to open and close trades. Bitcoin is not only in binance but in all crypto exchanges. So for the price of bitcoin to be determined it is not only dependent on binance.

[rendravolt]

I've been monitoring it for the last few weeks and its daily volume can reach $5 billion to $8 billion in a day. But what makes me confused is that bitcoin prices tend to be stable during that time. And it seems that there is only a pump and dump in the 1K usd difference for a day.

Everyone knows that Bitcoin price goes up and down. High volume means there might be someone accumulating and trying to hold an average price. Binance provides the best services to their traders, traders get enough liquidity to open and close trades. Bitcoin is not only in binance but in all crypto exchanges. So for the price of bitcoin to be determined it is not only dependent on binance.

It's true that bitcoin exchange is not just binance. But if we look back in 2017 maybe all bitcoin exchanges will follow the prices of bitstamp and bitfinex, at that time binance was still new and not as popular as it is now. But what is surprising is that in 1 year binance was able to shift the two largest exchanges mentioned above and now has surpassed it in terms of features, services, products, to daily volume. So now binance is the leader of the worldwide exchange and the price of bitcoin is in their hands.

[Eternad]

No doubt more than 80% of the people will say their favourite exchange is Binance.
It’s all due to the way Binance has respected his traders.
Binance had also made trading easy and all thanks to it’s cool yet easy interface.
Now they are present in the market for more than many years, so definitely when a newbie wants to join any trading platform, they will go for Binance.
This is also for the reason for which binance has the highest trading activity then any other exchange.

They are the first exhange too that offers there own utility token to lower trading fees that gives a huge benefit to there user and also they are the one who introduced a bunch of giveaways and tournaments with huge rewards to encourage there users to trade since they are returning part of there profit to there user. They are the first exchange who cares a lot to there customers so they deserve the popularity they have right now. Other shit exchange like Binance has zero tolerance and consideration to reward there user which is the reason why they left behind by Binance despite they are the first exchange who got the spotlight.

[abel1337]

No doubt more than 80% of the people will say their favourite exchange is Binance.
It’s all due to the way Binance has respected his traders.
Binance had also made trading easy and all thanks to it’s cool yet easy interface.
Now they are present in the market for more than many years, so definitely when a newbie wants to join any trading platform, they will go for Binance.
This is also for the reason for which binance has the highest trading activity then any other exchange.

They are the first exhange too that offers there own utility token to lower trading fees that gives a huge benefit to there user and also they are the one who introduced a bunch of giveaways and tournaments with huge rewards to encourage there users to trade since they are returning part of there profit to there user. They are the first exchange who cares a lot to there customers so they deserve the popularity they have right now. Other shit exchange like Binance has zero tolerance and consideration to reward there user which is the reason why they left behind by Binance despite they are the first exchange who got the spotlight.

I agree to this. The care of binance to make ease for their user are the one that separates them to the other exchange in the competition. They also have been the first on many features that they have. I don't know how but I have a friend that I haven't seen trading but somehow he have an account on binance and of course I ask why he have binance, he told me that he tried on earning money on crypto and from the tutorial he watched from youtube it is indicated that binance is the exchange they will be using but I guess he didn't learn to trade or give up trading easily maybe because of bear market? I really don't know but the point is Binance is easy to learn and to navigate. Content creators are using binance as their platform because it's much easier and user friendly than others and added to that is the reputation it has in crypto community.