Binance US overthrows Gemini Exchange by trading volume soon after launch


Binance announced the American customers in the middle of the summer that they’ll no longer be able to use on the main Binance platform from the start of September.
Though the major exchange didn’t indicate a very clear reason, it’s obvious that the growing efforts of US legislators to bring cryptocurrencies under control have unleashed multiple ripples in the blockchain industry and Binance as the largest crypto exchange in the world has surely felt the change of the tide.
During the long three summer months, as the American customers were leaving (moving their BNB assets into Bitcoin) Binance Coin plummeted from almost $40 to under $15.
However, the US market cannot be ignored and the large financial resources of the American customers are attractive enough even for the most popular platform in the world. That’s why Binance US launched at the end of September to accommodate the numerous US-based users that were left outside Binance reach at the start of the same month.
After Binance US was launched, old and new US customers came (back) to Binance and in about 2 weeks the new born US-dedicated platform showcased a major interest. Even though Binance US launched just a few weeks ago, its trading volume skyrocketed managing to leave behind Winklevoss Twins’ Gemini exchange.
If we look at the numbers, at the moment, Binance US generates an average 24-hour trading volume of $2 million, while Binance’s main global platform handles more than $740 million in daily trading volume.
Binance US now offers 28 markets to trade on, 12 USD-based pairs, 11 USDT-based pairs and 5 pairs that have Bitcoin as a base currency. American traders can sell their US dollars in exchange for Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Stellar Lumens, XRP, Tether and of course BNB, Binance’s native coin which came up as a nice surprise for the market that didn’t actually expect to see BNB available again for American users.
Even though at first US customers were a little skeptical to go on Binance again, the previous customers seem to have returned stronger than ever and the trading volume is catching up so fast that Binance US is already leaving some established US exchanges standing in the dust.

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