Binance Quarterly Trading Volume Grows Over $440 Billion

Despite a market that sees the prices of thousands of cryptocurrencies plunge to new lows, Binance saw increased trading volume in the first quarter of 2022, compared to the same period in 2021.

According to research by Be[In]Crypto, the trading volume of Binance, the largest crypto exchange in the industry, was around $5.54 trillion during the first quarter of the year.

Source: Nomics

This is an 8% increase in trading volume recorded between January and March 2021, or approximately $5.9 trillion, or $5.9 trillion.

Source: Nomics

This increase in trading volume is mainly due to an increased number of cryptocurrencies supported by Binance.

These include ApeCoin (APE) (launched in March 2022), and other cryptos such as Bitcoin (BTC), Ethereum (ETH), Terra (LUNA), Fantom (FTM), and the GMT Token (GMT), paired with USDT and BUSD.

Source: Nomics

To understand the trading profile of Binance investors, we need to look at the monthly trading volumes for the first quarters of 2021 and 2022.

In January 2021, trading volume was approximately $1.42 trillion with a one-day peak of $86.81 billion. In January 2022, trading volume was approximately $1.93 trillion, with a one-day peak of $106.55 billion.

In February 2021, trading volume was in the order of $1.82 trillion, with a daily peak of $126.26 billion. In February 2022, it was around $1.71 trillion, with a one-day peak of $127.92 billion.

Finally, in March 2021, Binance’s trading volume reached $1.85 trillion with a daily peak of $77.92 billion. In March 2022, it stood at $1.9 trillion, or $1.9 trillion, with a daily peak of $96.47 billion.

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