Binance, one of the most prominent crypto exchanges (at least until recently), is no longer on the top. Despite pioneering cryptocurrency exchange industry, it seems that all the advantage it had vanished. To the surprise of many, Binance is currently occupying the fourth place with 13.5% of the market share. The first position now belongs to OKEx.
However, if any of you Bitcoin poker players are worried that you won’t be able to move your funds through Binance, know that the exchange hasn’t kicked the bucket yet; it’s just that their situation has become a little unusual. Binance seems to be losing out when compared to its competitors (as evident by dropping three spots).
However, if you look at its performance at the exchange, the platform still seems to be generating decent numbers. This means that Binance is experiencing a temporary setback and that it will be soon back on track. If numbers are correct, Binance is moving over a billion USD. It’s safe to say that they are making quite a bit of profit with their 0.5% transaction fee.
But, that’s not all. Binance coin is also holding strong and keeping its value at a steady level, even in the hostile market conditions that have been prominent in the past few months. Not only that, but the value of the Binance token shot up by $15, which had an outstanding effect on keeping the platform stable and in the leading position. Additionally, in April, users could get rid of their micro-volumes, which also added to the value of the token, pushing its price to around $12.
In the end, Binance might have fallen to the fourth place according to their market share. However, they’re still in the front regarding the overall volume of Bitcoins traded. Also, Binance has potential to come back, as we’ve mentioned. So, it would be wise to keep an eye on them over the course of the next several months.