Small Steps: Binance.US Surpasses $10 Mln in Daily Trading Volume

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Wed, 10/23/2019 - 06:54
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Alex Dovbnya
Binance.US is proving naysayers wrong with its gradually growing trading volume
Small Steps: Binance.US Surpasses $10 Mln in Daily Trading Volume
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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.     

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.          
 

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Binance.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. 

Will Binance.US be able to compete with Coinbase? Share your take in the comments! 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.