Binance.US has recorded more than 10 mln in daily trading volume on Oct. 22, which is a new milestone for the recently launched fiat-to-crypto exchange.
The exchange's CEO Catherine Coley took to Twitter to comment on the news with the #AchievementUnlocked hashtag.
Slowly, but surely! It has been a busy first month.
— Catherine Coley (@cryptocoley) October 23, 2019
Thank you for trading on https://t.co/NDRVQIXfNf! #AchievementUnlocked #BUIDL #UsersFirst ?? https://t.co/LLewsd3yi2
Binance boss Chanpeng Zhao said it took them longer to achieve this milestone with the main exchange, which underscores the efforts that the team took to "jump-start" a new exchange.
Took @binance longer to unlock this achievement back in the day. Most people underestimate the effort involved in jump starting a new platform.
— CZ Binance (@cz_binance) October 23, 2019
Alex DovbnyaBinance.US is slowly expanding the list of altcoins that are available for trading. IOTA and BUSD recently became the latest cryptocurrencies to be added to the exchange.
It's hard to keep up with a flurry of new products introduced by Binance as the Malta-based behemoth continues to stretch its tentacles within the crypto diaspora.
In response to the declining demand for spot trading, it ventured into crypto derivatives that are becoming increasingly popular in the crypto space. As reported by U.Today, Binance's futures platforms recently traded more than $700 mln worth of derivatives in one single day.
Meanwhile, Bakkt, the ICE-backed futures exchange that debuted around the same time with Binace.US, is struggling big time to record decent trading volume.
Flopkkt pic.twitter.com/K1c1RjPzCW
— Alex Krüger (@krugermacro) October 22, 2019
Will Binance.US be able to compete with Coinbase? Share your take in the comments!
Dan Burgin
Vladislav Sopov