Binance, the world’s largest cryptocurrency exchange, has achieved a significant milestone in both spot and derivatives trading. According to <a href="https://ccdata.io/research/chart-of-the-week" target="_blank" rel="nofollow noopener">CCData</a>, the exchange’s cumulative trading volume has now surpassed $100 trillion, marking a monumental achievement in the crypto industry. This underscores Binance's dominance in the market, where it continues to outperform its competitors by a substantial margin.
<h2>Binance Outpaces Competitors</h2>
As the first centralized exchange to break the $100 trillion mark in combined trading volume, Binance stands out as a major force in crypto trading. By comparison, its closest rival, OKX, recorded $24.9 trillion in trading volume, with Bybit and Bitget following at $13.2 trillion and $10.9 trillion, respectively. HTX ranks fifth with $10.2 trillion.

Despite its collapse in November 2022, <a href="https://www.cryptoknowmics.com/news/ftx-co-founder-sam-bankman-frieds-jail-interview/" target="_blank" rel="noopener">FTX</a> remains the sixth-largest exchange by all-time trading volume, further emphasizing the scale of its operations prior to its downfall.
<h3>Bitcoin Leads Bullish Market Sentiment</h3>
Bitcoin closed Q3 2024 with a 1% gain after briefly dipping below $50,000 in August. As Q4 progresses, optimism has grown, with historical data indicating that Bitcoin has averaged a 49.9% return in Q4 since 2014. This bullish sentiment is further supported by a 50-basis-point interest rate cut from the Federal Reserve, which boosted Bitcoin’s aggregated open interest by 6% to $27 billion.

The cryptocurrency market has surged, with Bitcoin surpassing $62,000 and altcoins outperforming traditional U.S. equities. Risk-on assets like Bitcoin are expected to benefit from continued liquidity injections, with the market outlook remaining positive.

<em><strong>Disclaimer: </strong></em>The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Binance Reaches Historic $100 Trillion Trading Milestone

Binance surpasses $100 trillion in trading volume, solidifying its dominance. Bitcoin’s bullish Q4 outlook supported by market momentum.

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

Binance Reaches Historic $100 Trillion Trading Milestone

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