Recent data from analyst Joao Wedson highlights Binance's significant dominance in Bitcoin spot trading volumes following the ETF launch.
Binance Spot Trading Dominance
Recent data shows that Binance's spot trading volume consistently surpasses all other exchanges combined. This trend intensified following the Bitcoin ETF launch, with volumes rising from zero to positive territory, coinciding with Bitcoin's price increase from $40,000 to $73,000.
Historical Patterns Indicate Price Growth
The first chart illustrates the volume differential between Binance and other exchanges, highlighting positive growth. Similar volume increases in the past preceded significant price rallies.
Competition Among Crypto Exchanges
Analysts speculate that Binance's dominance may be driven by institutional traders possibly bypassing U.S. restrictions through offshore accounts. If this trend continues, Bitcoin could see upward pressure, potentially testing new highs.
As the crypto market monitors volume trends and institutional activity, analysts emphasize the importance of this moment for the industry.
