Binance, the world’s largest cryptocurrency exchange, shared its detailed report for the first half of 2023.
Binance’s research department included remarkable details of the first half of 2023 in the file it shared on the Binance Research official website. By implying sanctions and lawsuits from the US that they had a difficult period in the first half of this year. Binance, stating that Bitcoin has shown since the beginning of the year of 87% price increase stressed that it left many traditional financial products behind.
Stating that the correlation between traditional finance and Bitcoin is currently at its lowest levels, Binance underlined the increasing interest in the BRC-20 token frenzy and stated that they expect development and innovation in this area in the next few months.
Emphasizing that Tier-1 (L1) blockchain projects have had a good 6 months overall, the exchange is offering native tokens. The scalability of BNB stated that they are focused.
USDT grows as stablecoins fall
According to the information in Binance’s report, the global stablecoin market 7% Tether’s (USDT) market share while falling 25.8% increased. The biggest reasons for this are thought to be the US order to stop the issuance of Binance USD (BUSD) and the subsequent stop decision.
In addition, Circle’s reserves in the bankrupt Silicon Valley Bank (SVB) during the recent collapses of US banks have some After USDC’s announcement Breaking the stability of 1 dollar also seems to be one of the reasons for the increase in USDT’s market share.
NFT volumes increased
Binance, which also includes NFTs in its report, in the first half of 2023 compared to the second half of 2022. more trading volume said it was created. NFT marketplace launched at the beginning of the year It is also stated in the report that Blur has an impact on the volume in question. place was given. Pointing out that the base prices of major projects have decreased, Binance said that, in general, poor performance of NFTs he said it showed.
On the other hand, mentioning that the game project tokens experienced a great increase in the first half of 2023, the stock market said that the current blockchain games from 67% more than BNB Chain, Ethereum (ETH) and Polygon (MATIC) He stressed that it was built on