Binance Wallet captured 55.6% of the cryptocurrency wallet market

Yesterday, Binance Wallet recorded a record one -day transaction volume of $ 116 million. This allowed him to take 55.6% of the total trading amount among tracking cryptocurrency wallets. Such growth was provided by several factors. Among them, the launch of Binance Alpha 2.0, the introduction of zero trading commissions, as well as the public sale of KiloEx tokens. The temporary suspension of the OKX DEX aggregator has an additional impact, which led to the redistribution of volumes in favor of competitors.

The second place in terms of trading was taken by Bitget Wallet. He showed a noticeable increase in activity, but still lags behind the leader. The final numbers in its share in the market are not yet specified. OKX Wallet, which suspended the operation of the aggregator, lost some of the users. This affected his position among cryptocurrency wallets. However, the full effect of these events will become clear only in the coming weeks.

In addition to Binance and Bitget, market shares are distributed between other wallets. These include GMGN, Bullx and somewhat less popular solutions. Their combined share remains significant, but is reduced. Users prefer more liquid platforms with low commissions. If the trend is preserved, the competition in the crypto -core market will only intensify.

An important factor remains the policy of the commissions. Binance Wallet was able to attract users thanks to zero fees. If other platforms follow this example, the competition will exacerbate. Otherwise Binance It will be able to maintain leadership for a longer period. The situation in the cryptocurrency wallet market remains dynamic. In the near future, the emergence of new solutions is expected, which can change the balance of power. So far, Binance Wallet holds leadership, but these positions are not guaranteed.

Author

Peter Ivanov