Altcoin News: Binance US Liquidity Surpasses Gemini Exchange
October 3, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
Binance US started just over a week ago, but its liquidity is already above that of the Gemini Exchange of the Winklevoss twins.
CZ quoted data from cryptowat.ch as indicating that the liquidity of Binance’s US office has tripled in about a week.
Despite the high liquidity, the trading volume of Binance US is still low. It should not be forgotten, however, that the platform came out only a week ago, so it remains to be seen how many traders will trade with Binance US in the long run. Currently, the US office generates a 24-hour volume of $2 million. By comparison, Coinbase Pro has generated over $152 million in the last 24 hours. Binance’s global platform handles more than $740 million in daily trading, so it’s still viable.
Currently, Binance offers US 28 crypto pairs to trade, including 12 USD-based pairs, 11 USDT-based pairs (tethers) and 5 pairs with Bitcoin as the base currency. American traders can exchange their dollars in exchange for Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Stellar Lumen, Ripple’s XRP, Tether’s USDT and the Native Token BNB. Gradually, more coins will be added to the repertoire of the exchange market.
CZ said the US office grew faster than Binance at the time. American traders may feel motivated to join the platform for free until the end of October. Incidentally, Binance US has announced through its Twitter profile that fraudsters are posing as official customer service representatives.
Author: Marko Vidrih
