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Entire Chinese Stock Market Surpassed by One Crypto Exchange

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Sat, 05/08/2021 - 14:40
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Vladislav Sopov
Chinese insider journalist Colin Wu shared the details of yet another record of leading crypto exchange Binance (BNB)
Entire Chinese Stock Market Surpassed by One Crypto Exchange
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Mr. Wu announced that Chinese media registered a new unofficial record of the world-leading cryptocurrency exchange, Binance (BNB). Meanwhile, its team and community are not commenting on this accomplishment.

Crypto exchange leaves stock markets in the dust

According to the latest post by Mr. Wu, the net value of trading across all spot and derivatives trading pairs on Binance reached a new high over $168 billion in 24 hours.

Binance surpasses entire stock market
Image via Twitter

Given actual exchange rates, this sum is equal to 1.08 trillion Chinese Yuans. At the same time, China's Shanghai and Shenzhen Stock Exchanges processed only 883 billion Yuans.

Mr. Wu emphasizes that this achievement has not been confirmed by the Binance (BNB) administration yet.

Launched in 2018 by entrepreneur and engineer Changpeng Zhao, Binance (BNB) is the world-leading cryptocurrency exchange in terms of trading pairs' quantity and trading volume.

Taking DOGE mania to the max

Exploring every hottest cryptocurrency trend to the max is the crucial aspect of Binance's business strategy. The platform was the first to list all native assets of decentralized financial protocols and NFT-focused projects.

Amidst Dogecoin (DOGE) euphoria, Binance has started an unusual promotion. Users from Kenya, South Africa, Egypt, Tanzania and Mauritius who deposit their national fiat currencies are eligible for airdrops of $10,000 in Dogecoins.

Binance launches unusual DOGE promotion
Image via Twitter

 Today in the early morning hours, Dogecoin (DOGE) printed a new all-time high over $0.74 on major spot exchanges.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)