Binance Overtakes Coinbase to Take the Lead in the Crypto Race

The current bear market has significantly impacted trading activity on major US cryptocurrency exchanges. Diar researchers believe this is due to increased regulation.

According to a recent report from a group of Diar researchers tracking data through CoinApi, Coinbase's total trading volume for January was over $20 billion, but for July it was just $3.4 billion. However, this trend is very different from the popular exchange Binance, where trading decreased by only 30% over the same period, and even increased significantly from June to July. This indicates growing interest in the Binance exchange, despite the ongoing bearish trend in the market.

After studying trading volumes on all major trading platforms, the Diar team concluded that exchanges outside the US have significantly higher activity due to the lack of regulatory issues. Volumes on the Coinbase, Bitstamp and Kraken exchanges have decreased noticeably, while on exchanges outside the US they are growing.

Given this, it becomes clear why the Ethereum Classic (ETC) coin did not increase in price after listing on the Coinbase exchange, but the listing on the Binance exchange continues to have a positive impact on the price of cryptocurrencies allowed for trading. Additionally, Binance's exchange token, Binance Coin (BNB), was the best-performing cryptocurrency in 2018. 90% of Binance employees are now paid in BNB.

BNB is currently ranked 16th on the AltDex 100 Index (ALT100), the benchmark index for the largest capitalization cryptocurrencies and tokens, and 1st on the Token Index (ALTEXC), the benchmark index for leading exchange tokens.

Given that trading activity is so influential price, advice can be given to trade on US exchanges to reverse the trend once the cryptocurrency market breaks out of this 8-month bearish trend.

According to sludgefeed.com