- Changpeng Zhao tweets about the surge experienced by Binance.
- Zhao credited the surge on BTC’s trading fee in the largest crypto exchange.
- Arcane Research observed that Binance’s market share of BTC’s trading volume grew by 92%.
Talking to the Twitter crypto community, Changpeng Zhao, the CEO of Binance, tweeted about the surge experienced by the crypto exchange. When the Twitter community observed the gains by Binance, Zhao attributed the surge to BTC’s trading fee in the largest crypto exchange.
Arcane Research observed that Binance’s market share of BTC’s trading volume grew by 92%, establishing its dominance in the crypto industry by the end of 2022. Meanwhile, it was reported that Binance experienced a surge of 45% on Sunday.
Moreover, Arcane research analyzed that Binance also had 66% of the crypto perp volume and 61% of the BTC derivative volumes by the end of the last year.
After an update in the prices, reports have mentioned the surge witnessed was due to the sudden lifting of the trading fees for Binance’s spot.
Arcane research highlighted Binance in their “2022 Year-in-Review Report.” The analytics company also observed that stablecoins had increased vastly in market dominance in 2022.
On the darker side of the crypto world, Arcane Research also found out that the NFT market collapsed; DeFi and bridge-related hacks accounted for $3 billion; and 2022 was an extremely challenging year for miners after they faced year-to-date drawdowns of 90% approximately.
With the start of the new era, crypto communities are expecting a time of prosperity and success, hoping many crypto projects will rise after surviving the harsh winters. The CEO of Binance also shared a joke by a supporter stating, “why the more rumors we spread about Binance, the more market share it gains?” This is an indication of a possible better future for crypto industries.
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