Richard

Retik Finance

Bitcoin

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<ul>
 <li>Binance’s Bitcoin holdings increased by 10% in early 2024, while other exchanges saw an 8% decline.</li>
 <li>Binance leads in liquidity among 43 surveyed exchanges in Q2 2024, according to Kaiko research.</li>
 <li>Binance’s asset diversity and strategic initiatives under CEO Richard Teng bolster its market leadership.</li>
</ul>
<p>Bitcoin holdings have declined by 8% across all exchanges since early 2024. However, Binance’s Bitcoin holdings climbed by 10%.</p>
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   <p lang="en" dir="ltr">'<a href="https://twitter.com/binance?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Binance</a> is growing rapidly compared to other exchanges.<br><br>Since early 2024, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> holdings on all exchanges dropped by 8%, while Binance's is up by 10%.<br><br>The question I got the most last year was "Is Binance okay?" Orchestrated FUD can't beat data. Focus on data, not rumors. <a href="https://t.co/0NuMIbv6Wg" rel="noopener noreferrer nofollow">pic.twitter.com/0NuMIbv6Wg</a></p>— Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1810728277016784917?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 9, 2024</a>
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<p>&nbsp;This enormous growth demonstrates Binance’s strong market presence. Despite <a href="https://cryptonewsland.com/binance-accused-of-illicit-transactions-by-nigerian-central-bank/" target="_blank" rel="noopener noreferrer nofollow">legal challenges</a>, the exchange has demonstrated resilience by maintaining its position as a liquidity leader.</p>
<p>According to <a href="https://www.kaiko.com/" target="_blank" rel="noopener noreferrer nofollow">Kaiko’s research</a>, Binance continues to be the liquidity leader of the 43 exchanges surveyed in the second quarter of 2024. The factors determining Binance’s leadership include trading volume, volume contribution, and market depth.&nbsp;</p>
<p>The findings highlight Binance’s extensive trading ecosystem, distinguishing it from competitors such as Bybit and Upbit. These exchanges have excellent liquidity ratings as well, but a far lower market quality overall.</p>
<p>Volume, which indicates how much trade an exchange handles, is a crucial factor in liquidity rankings. In Q2 2024, Binance not only dominated in liquidity but also in average trade volume. Upbit followed in trading volume but came 10th overall due to a low business score.</p>
<p><a href="https://www.binance.com/en" target="_blank" rel="noopener noreferrer nofollow">Binance</a> has four times as much trading activity as Upbit because it offers twice as many assets. The diversity of listed assets brings significantly to Binance’s top position in terms of volume and liquidity.</p>
<p>Recent strategies <a href="https://cryptonewsland.com/binance-ceo-richard-teng-challenges-traditional-bankings-crypto-criticism/" target="_blank" rel="noopener noreferrer nofollow">put in place</a> by Binance CEO Richard Teng are responsible for the platform’s diverse asset offering. These tactics bring new products to market, raise the frequency of launchpools, and distinguish between futures and spot listings. As a result, these moves have strengthened Binance’s market leadership, assuring its continuing development and dominance.</p>
<p>The large growth in Bitcoin holdings by Binance, as well as its sustained leadership in liquidity, show the company’s strong market position. The exchange’s strategic goals and broad asset options have been critical to preserving its edge in the marketplace. Despite legal drawbacks, Binance remains an important player in the digital currency industry.&nbsp;</p>
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<p>The post <a href="https://cryptonewsland.com/binance-beats-competitor-exchanges-as-its/" rel="noopener noreferrer nofollow">Binance Beats Competitor Exchanges as its Bitcoin Holdings Surge Despite Market Downturn</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Binance Beats Competitor Exchanges as its Bitcoin Holdings Surge Despite Market Downturn

Crypto News Land

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