Binance cryptocurrency exchange has reached a historical milestone by exceeding the 100 trillion dollar threshold in total spot and derivative trading volume. This success reinforces Binance’s market leadership, while Binance Coin 
$598 It brought with it a potential increase in (BNB) price.
Market Leadership and Trading Volume
Binance became the first exchange to achieve $100 trillion in trading volume as a centralized exchange. This has enabled Binance to outperform other crypto exchanges while strengthening its global leadership in crypto trading. The total volume covers spot and derivatives markets, demonstrating the platform’s broad reach and capital entering the crypto sector.
Market Expansion with Mobile Money in Africa
Beyond its trading dominance, Binance has also expanded its services in Africa. Cryptocurrency purchases have become possible by integrating mobile money payments in Benin, Cameroon, Ivory Coast, Democratic Republic of Congo, Togo and Senegal. This initiative aims to increase financial inclusion by providing more accessible entry points to the digital economy across Africa.
BNB Price is Preparing for a Potential Rise
Binance’s rise in trading volume and service expansion has increased interest in the BNB price. Currently trading around $600, BNB continues to show resilience in volatile markets. Analysts evaluate the possibility of the price rising to $800 if the $620 resistance level is surpassed.
Binance Coin (BNB) price reached $597.27, up 3.61% in the last 7 days. The 24-hour liquidity of BNB, which has a market value of 87.16 billion dollars, is at the level of 1.48 billion dollars.
Compared to Binance’s other exchanges, OKX ranks second and has a lifetime trading volume of $25 trillion. OKX continues to improve its services to remain competitive. Despite its collapse in November 2022, FTX is still listed as the sixth largest exchange.
Other exchanges such as Bybit and Bitget rank third and fourth respectively, with trading volumes of $13.2 trillion and $10.9 trillion. These platforms stand out with their improved user experiences and diversified product offerings.
Indicative of the volatile nature of the financial sector, risks and uncertainties of digital asset exchanges remain. Binance’s reaching a volume of 100 trillion dollars reflects its strong position in the market and user trust.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
