Binance, the world’s largest digital currency exchange in terms of trading volume, has witnessed a potential increase in its daily trading volume on its trading platform. Reportedly, the daily trading volume across its derivatives as well as spot trading platforms reached a significant new high recently.
The Chief Executive Officer (CEO) of Binance Changpeng Zhao (CZ) has reported this news via a tweet on Monday and said that the 24-hour trading volume on the exchange’s trading platform surged high to reach the figure of $80 billion on the 4th of January. The daily trading volume on the spot trading platform of the crypto exchange surpassed the mark of $23.6 billion. While on the other hand, the derivatives trading platform of the exchange witnessed a daily trading volume of $57 billion. That is a remarkable growth seen by the leading digital currency exchange on its platform.
While reporting this news, Binance CEO said in the tweet, they had to face some scaling issues in spite of this growth in daily trading volume as he said:
“We saw some scaling issues today. We probably will see more issues as we continue to grow. We aren’t perfect, but we will fix them as quickly as we can.”
$80+ billion in trading volume in the last 24 hrs on @Binance. ATH x 2!
We saw some scaling issues today. We probably will see more issues as we continue to grow. We aren't prefect, but we will fix them as quickly as we can. We appreciate your understanding and support!🙏🙏🙏 pic.twitter.com/16A2DhWHqB
— CZ Binance (@cz_binance) January 4, 2021
Furthermore, in another tweet, he drew a comparison between the current monthly trading volume growth seen by the exchange during the 2020’s bull run and the trading volume growth that it witnessed back in the year 2017 from the 15th of November to the $15th of December and said:
“To put this in perspective, from Nov 15, 2017, to Dec 15, 2017, the month leading up to the ATH in 2017, @Binance did $20 billion in trading volume in 1 month. And we were the largest with those volumes back then.”
Apart from this, an amount of $190 million was also liquidated on its trading platform within the duration of just ten minutes as Bitcoin faced a price crash on the day.
Lawyer James K. Filan Says XRP Community Could Make A Huge Impact On Ripple Vs. SEC Case
$33M Injected Into XRP Products Within One Week Boosting AUM Of the Sector Up
How Is the XRP Lawsuit Going And How Investors Make More Money on the Recent Fluctuation of XRP Prices?
XRP Holders are Seeking intervention in the SEC’s Lawsuit Against Ripple
New Report Says Ripple Is A Potential Competitor To Indian Traditional Banking System
Recent Press Release
The Best NFT & DeFi Project Token Sale, TimeCoin(TMCN)
The best opportunity to invest in TimeCoin(TMCN) to realize both capital and income gain. The Special Token Sale of TimeCoin...
Place 1xBit bet BTC and Win
cryptocurrency is very much valued in the modern world, because it allows fast and secure transactions in different parts of...
Hips Payment Group Launches Merchant Token (MTO), a Cryptocurrency That Will Bring Consumer Protection to Blockchain Payments
Solution supports decentralized finance (DeFi) trend with consumer protection via smart contracts. DUBLIN, Ireland (April 1, 2021) – HIPS Payment...
Best 5 Crypto Social Trading Platforms
Over the past few years, technology has brought about drastic changes in how people approach the subject of investment. As...
TimeCoin (TMCN) Special Token Sale is Live Join Now!
The Special Token Sale of TimeCoin (TMCN) was launched on February 15th, 2021, with a 93% discount on the token’s...