Key Points
- Binance Wallet’s single-day volume accounted for 54.4% yesterday.
- The significant spike in Binance Wallet’s market share could be related to the exchange’s recent announcement.
Binance Wallet saw a record single-day volume on March 18 which placed it at the top of the crypto wallet trading volume list.
Its record performance came after Binance announced the launch of the Binance Alpha 2.0 platform, bridging the gap between CEX and DEX, marking a huge achievement for users.
Binance Wallet Volume Tops $93 Million on March 18
Yesterday, Binance Wallet’s volume was ranked number 1 at over $93 million, according to data from Dune. GMGN came in second at over $39,9 million, followed by Bitget at over $16,7 million.
Yesterday, Binance Wallet’s daily volume market share hit 54.4% and today its performance keeps it in the first position at over 66.1% so far, according to the same data.
Binance Wallet also saw record numbers in terms of daily active traders yesterday with over 28,600 users, Dune data shows.
Binance Wallet’s success came after the crypto exchange made an important announcement the other day.
Binance Alpha 2.0 Launched Yesterday
On March 18, Binance announced the launch of Binance Alpha 2.0 expanding the previous platform that was created to showcase projects with high growth potential in Web3.
The new platform bridges the gap between CEX and DEX, allowing users to explore and buy tokens on-chain via the main Binance platform, without the need to withdraw assets to external wallets or create an on-chain wallet.
Binance users are now able to use funds from Spot, Funding, and other accounts supported by Binance Pay to buy Alpha tokens.
The news was received with huge enthusiasm by the industry and this was mirrored in Binance Wallet’s record numbers from yesterday. The exchange’s decision enhances liquidity, boosts capital efficiency, expands the project’s accessibility to users, and removes the previous unnecessary steps, offering users access to DEX tokens via a CEX.
CZ highlighted the important event yesterday, saying that more CEXs will probably follow suit. This latest move will also support higher activity on the BNB Chain.
