Binance vs. Coinbase: CZ’s bold comparison and BNB’s bullish momentum

Please fol­low and like us:
Pin Share

  • Binance CEO Chan­peng Zhao com­pared Binance.US’s trad­ing vol­ume with that of Coinbase.
  • BNB shift­ed towards a slight­ly bull­ish trend fol­low­ing its recent mod­est gains over the past four days.

In a bold move, Binance [BNB] CEO Chan­peng Zhao shared a com­par­i­son of Binance.US’s trad­ing vol­ume with that of Coin­base on 31 March, show­cas­ing an impres­sive surge in activ­i­ty for the for­mer. With such a sig­nif­i­cant uptick in trad­ing vol­ume, one might won­der if this new­found con­fi­dence has also extend­ed to the BNB coin.


Real­is­tic or not, here’s BNB mar­ket cap in BTC’s terms


Binance trading volume dwarfs Coinbase

CZ may have made this com­par­i­son because Binance.US and Coin­base both oper­ate in the Unit­ed States. CZ shared a post indi­cat­ing that Binance US achieved a remark­able feat – its week­ly trad­ing vol­ume was equiv­a­lent to 41% of Coinbase’s glob­al trad­ing volume.

It is worth not­ing how CZ empha­sized that these fig­ures per­tained only to Binance.US and did not con­sid­er the entire­ty of Binance’s trad­ing vol­ume, unlike the com­par­i­son being made with Coinbase.

Based on CoinMarketCap’s data, a com­par­i­son between Binance and Coin­base revealed a stark con­trast between the two exchanges. Look­ing at the 24-hour trad­ing vol­ume, Binance’s $11 bil­lion dwarfed Coinbase’s $1 bil­lion figure. 

Binance also enjoyed a sig­nif­i­cant­ly larg­er num­ber of week­ly vis­its, with over 14 mil­lion com­pared to Coinbase’s mea­gre 43,000. Addi­tion­al­ly, Binance offered more mar­kets than Coin­base, fur­ther solid­i­fy­ing its sta­tus as a major play­er in the cryp­tocur­ren­cy exchange industry.

Binance 24-hour trading volume

Source: Coin­Mar­ket­Cap

BNB chain transactions YTD

An upward trend can be seen when one takes a close look at the trans­ac­tion his­to­ry of the BNB Smart Chain [BSC] since Jan­u­ary. Dai­ly trans­ac­tions in Jan­u­ary and Feb­ru­ary were most­ly under 3 mil­lion, but the fig­ure con­sis­tent­ly remained above the mark in March. 

This indi­cat­ed a rise in vol­ume on the chain, despite the recent Fear, Uncer­tain­ty, and Doubt (FUD) sur­round­ing the exchange.

Binance Chain daily transactions

Source: Bsc­scan

While the surge in trans­ac­tions on the BNB Smart Chain could be attrib­uted to sev­er­al fac­tors, it was still a clear indi­ca­tion of increased activ­i­ty on the network.

BNB on a daily timeframe

As of this writ­ing, BNB was attempt­ing to recov­er on a dai­ly time­frame. The chart showed that it had been expe­ri­enc­ing gains of less than 1% over the past three days.


How much are 1,10,100 BNBs worth today?


It was trad­ing at around $317 with a gain of less than 1% at press time. The slight increase indi­cat­ed a tug of war between buy­ers and sell­ers, as both sides fought for mar­ket control.

BNB/USD price move

Source: Trad­ingView

Fol­low­ing its mod­est gains over the past four days, BNB has shift­ed towards a slight­ly bull­ish trend. As of this writ­ing, the Rel­a­tive Strength Index (RSI) line was slight­ly above the neu­tral line, indi­cat­ing the coin could begin an upward swing.



Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *