Binance Crypto Exchange Surpassed Entire Chinese Stock Market

Sahaj  |  May 10, 2021

Colin Wu, the Chinese insider journalist has recently shared the details of yet another record of the leading crypto exchange in the market, Binance (BNB). In accordance with the announcement made, the Chinese media registered a brand new unofficial record of the top crypto exchange in the world.

Chinese Stock Market Outshined by Binance Crypto Exchange

Colin Wu made an announcement that revealed that the net value of trading across all the spots and derivatives trading pairs on the Binance exchange has managed to reach a new high of over $168 billion in 24 hours.

However, the team behind the exchange and even its community is preferring not to comment on this accomplishment of the exchange.

Provided the actual exchange rates, the sum is equivalent to 1.08 trillion Chinese Yuans.

The Shenzhen Stock Exchange and the Shanghai Stock Exchange of China were able to process only 833 billion Yuans at the same time.

In addition to this, Mr. Wu laid emphasis on the fact that this achievement has not yet been addressed by the officials behind the Binance crypto exchange.

Changpeng Zhao, the entrepreneur, and engineer launched Binance in the year 2018 and since then, the exchange has managed to lead in terms of quantity of trading pairs and trading volume.

Dogecoin Euphoria and Core Business Strategy of Binance

Well, the fact the Binance has a really strong base of their core strategies in leading the crypto market can not be ignored. One of those strategies is the exploring of each and every hot and trending cryptocurrency trend to the maximum potential.

Discussing further it should be known that the platform was the first one to enlist the native assets of the projects aimed at NFTs and decentralized financial protocols.

Amidst this Dogecoin trend, the crypto exchange has begun an unusual promotion. The users from Mauritius, Tanzania, Egypt, South Africa, and Kenya, who make deposits of their national fiat currencies are eligible for airdrops of $10K in Dogecoins.

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