Analysts noted the dominance of Binance in the withdrawal of BTC and ETH among exchanges
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Johny Smith
2025/01/22
3 mins read
CryptoQuant researchers studied the situation on the Binance cryptocurrency exchange. They noted that the world’s most popular trading platform for digital assets continues to lead among all competitors in the number of transactions for the withdrawal of Bitcoin (BTC) and Ethereum (ETH). According to the latest data, in 2024 it remained in 1st place, ahead of all other participants in the crypto market.
The exchange showed its most impressive results in December 2024. During this month, Binance processed almost 2 million transactions for the withdrawal of BTC and ETH, which became a new record for the industry. This indicates the high liquidity of the platform, while indicating that users either do not trust the centralized platform or are increasingly following the self-storage trend.
“Comparing the performance of other exchanges such as Kraken, Bybit and Gate.io, it is clear that none of them can compete with Binance in terms of scale of operations. This is due to both the broad user base and the technical reliability of the infrastructure,” the researchers said.
The increase in activity on Binance indicates the exchange’s key role in the global industry. Users are increasingly choosing this platform as their main place for trading and withdrawals. This volume of transactions may indicate sustainability Binancedespite competition and challenges from regulators around the world.
In addition, the increase in the number of transactions is due to the overall market dynamics. In 2024, there was increased volatility in cryptocurrencies, which stimulated the activity of traders and investors. Many users sought to withdraw funds to personal wallets, which confirms the growing interest in asset security.
However, Binance’s dominance raises questions for the industry about liquidity distribution. Concentrating such a volume of transactions on one platform creates risks for the stability of the market in the event of unforeseen events.
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