Binance has evolved through the years to become a household name in the arena of cryptocurrencies.
The fact that Binance currently is tagged as one of the most successful cryptocurrency companies is justified by its recent trade volume that surpassed 15 million dollars. As a low trading fee exchange, you can also do day trading on Binance, which gives altcoin day traders the chance to trade cryptocurrencies many times a day. On Wednesday this week, the firm registered the highest record of volume in daily trading. The company’s record hit faster than its parent firm ever did.
From the time of its launch during mid-September, the intensely governed entity, Binance America exchange does own history of downturns and lower trading volumes, while the investors took a reversal of attitude. Although the trading volumes per day are reportedly known to have hit an increase of 250% during the last 3 days, it is currently trading at 15.3 million dollars volume per day.
The pair BTC/USD, as well as BTC/USDT, are leading, having a stake of 31% in the entire traded volume during the last 24 hours. The exchange has also managed to inculcate the number of different trading pairs of a cryptocurrency over the platform that includes names like ETH, LTC, XRP, BCH, and IOTA.
The Binance US arm’s CEO, Catherine Coley, is expecting to attain higher milestones with his team to reach the highest volume of trade ceilings.
She also mentioned in a tweet that she is happy about the firm marking off the $10 million points in daily trade volume and congratulating it for the same.
According to the press, the firm saw $10,481,594 as daily trading volume, says the data by Binance America’s CEO, Catherine Coley.
Binance.US was inaugurated on September 24, last month, and started with providing 13 pairs of fiat-to-crypto as well as crypto-to-crypto for trading. These names included Bitcoin, Ether, XRP, Bitcoin Cash, Litecoin, Binance Coin as well as the Tether stablecoin.
Freshly launched Bitcoin features by Binance were excellent for the crypto spot as well as derivatives markets, and those were reported to hit a 700 million dollar mark while other giants were sluggish performers.
Binance CEO Changpeng Zhao said in an interview,
“Took Binance longer to unlock this achievement back in the day. Most people underestimate the effort involved in jump-starting a new platform.”
On October 22nd, Binance launched backing for 2 of the new cryptocurrencies, IOTA and Binance USD.
Binance USD was inaugurated by Binance along with Paxos, the digital asset trust corporation. The stablecoin is like fiat-pegged coins of the industry and has got regulatory permission to operate from New York’s State Department of Financial Services.
Binance might also be planning to include the Russian ruble over its primary exchange, as CEO went on to insist in an interview that Russian President Vladimir Putin is the most powerful individual in the expanse of cryptocurrencies.