The Block: Binance Quarterly Trading Volume Reaches New Record

According to The Block, The volume of trading in the urgent market on the Binance site was $306.6 billion for the III quarter 2020 of the year, And this is a record indicator for the entire existence of the exchange.

The volume of trading in the urgent market on the Binance site increased immediately on 110% for the III quarter 2020 year - in II the quarter of this year, this indicator has reached only $146.3 billion. Growth in the volume of trading, most likely, associated with the influx of retail investors on the Binance exchange.

Note, that on the futures platform Binance also recorded a noticeable increase in the volume of trading, although the dynamics here is not so impressive - the indicator has grown only on 43.5% per quarter.

The analysts The Block emphasized, that historically the main source of profit Binance was commissions for trade operations, However, recently the ecosystem of the exchange has grown significantly. Now the site offers trading derivatives for cryptocurrencies, Credit products and P2P trade for users from China.

Recently Binance has conducted another quarterly burning BNB. The volume of destroyed coins is calculated depending on the profit from transactions on the exchange. During the thirteenth quarterly burning, it was destroyed 2.2 Milln BNB for the amount $68 million.