The post Binance To Overtake Coinbase as Bitcoin Exchange Reserves Hit ATH 25% appeared first on Coinpedia Fintech News
Binance, one of the world’s largest cryptocurrency exchanges, is growing stronger. Recent data shows that its reserve percentage has reached an all-time high of 25%. This means Binance now holds a large share of all crypto reserves across exchanges, only behind Coinbase, which has around 33%. This surge highlights how Binance is becoming a bigger player in the crypto market.
Binance Exchange Reserve Hit ATH
According to CryptoQuant on-chain analyst Maartunn, Binance has reached a major milestone, with its Exchange Reserve Percentage hitting an all-time high of 25%. This shows the platform’s growing dominance and popularity in the crypto market, as the metric represents the share of crypto reserves held by Binance compared to all exchanges.
Binance reserve percentage reaches an all-time high of 25%
“If this growth trend continues, Binance could soon challenge Coinbase in terms of holding the highest percentage of exchange reserves.” – By @JA_Maartun
Full post
https://t.co/OnTW8EbQ9e pic.twitter.com/v42CpPEuB5
— CryptoQuant.com (@cryptoquant_com) November 7, 2024
Maartunn’s analysis reveals that Binance’s reserve percentage has risen by 4% over the past year, increasing from 21% in November 2023 to 25%. While this growth may seem small, it is a significant achievement, especially considering the fierce competition in the crypto exchange space.
Meanwhile, the only exchange holding a higher reserve percentage is Coinbase, with around 33% of the total exchange reserves.
Binance Eyes Coinbase’s Top Spot
While Coinbase currently leads the pack, Binance is rapidly closing the gap. With continued growth, it’s only a matter of time before Binance might surpass Coinbase in exchange reserves.
The increasing user base and strong market sentiment around Binance indicate that this shift could happen sooner rather than later, challenging Coinbase’s long-held position at the top.
Binance’s Strategic Move
Binance’s ongoing expansion efforts are part of a larger strategy to strengthen its position in the market. By continually improving its offerings, implementing robust security measures, and enhancing customer service, Binance is likely to attract even more users in the coming months.
As the exchange’s reserve percentage continues to rise, it’s clear that Binance is positioning itself to be the dominant player in the global crypto exchange ecosystem.
