Binance sees huge trade volume in May and June

Binance sees huge trade volume in May and June

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May and June were two particularly good months for the cryptocurrency exchange Binance . The exchange has never seen such a large trading volume. The record appears to be an early gift for Binance, which will celebrate its second birthday on July 14.

Binance had its best month in its existence last month; it surpassed the $ 60 billion in reported trade volume. The reported trade volume in May and June (~ $ 125 billion) was higher than in the previous four months combined.

Binance saw $ 58 billion in transactions on the trading platform in May. In June a little more was added, when it saw a trade volume of no less than $ 67 billion.

Binance is a major superpower within the crypto sector. For example, it recently launched a decentralized version of the trading platform; Binance DEX . In addition, it has Launchpad, a platform on which so-called Initial Exchange Offerings (IEO) can be held, and now offers the possibility to invest with bitcoin (BTC) future contracts.

To make the platform even more user-friendly, Binance today announced that it will reduce the number of block confirmations required for deposits and withdrawals. This will do it for deposits and withdrawals with bitcoin and ethereum (ETH) transactions.

Two block confirmations are now needed for bitcoin withdrawals, and only one confirmation is required for deposits. For ethereum and other ERC-20 tokens, 30 additional confirmations were first required for both deposits and withdrawals. That has now been adjusted to 12. This should lead to faster deposits and withdrawals on the trading platform.

Finally, Binance is celebrating its second birthday on 14 July. Users can participate in a competition where they can talk about their own “Binance story”. In the announcement the exchange writes:

Since the beginning, the Binance community has been our cornerstone and the growth of the Binance ecosystem has only become possible with your support. To show our appreciation for our community, we want to celebrate with you all that Binance will be 2!

Participants can win merchandise, 10 Binance Coins (BNB) and a Yubikey hardware authentication device. The stories can be submitted until July 14 via Facebook or Twitter.

About Shawn Morrison 266 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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