Amid the ongoing struggle with global regulators, especially the US, Binance has taken another step. It published its first report on 2023, which was written by the research department. The report focuses on the outstanding performances of Bitcoin and USDT.
The extraordinary flexibility of Bitcoin
Despite facing numerous lawsuits, Binance has managed to maintain its position as the world’s largest exchange. cryptocoin.com When we look at it as a whole, the report underlines the difficult times the industry went through in the first half of the year, when Bitcoin’s performance stood out and significantly impacted traditional financial markets.
The market dominance of the cryptocurrency has reached its highest level since April 2021. Accordingly, it experienced an 87% increase in its price. It also outstripped traditional investment vehicles. Ordinals and inscriptions have brought new vitality to the Bitcoin ecosystem.
USDT growth amid stablecoin decline
Binance analysts noted the growth of USDT issued by Tether despite the 7% drop in global stablecoin market capitalization. USDT witnessed a remarkable growth of 25.8%.
The report also highlights that Ethereum’s liquid staking has reached an all-time high. On the other hand, it was emphasized that Solana returned successfully after a difficult 2022. Also, Tron’s USDT dominance continued its upward trajectory.
NFTs face price challenges
The research department has studied the world of Non-Fair Tokens (NFTs). Accordingly, Binance noted price drops and an overall lackluster performance. NFTs have experienced higher trading volumes in the first half of 2023 compared to the second half of 2022. Also, most NFTs have struggled to hold their value throughout the year.
As the largest cryptocurrency exchange by trading volume, Binance continues to have a significant impact on the crypto market. There are decisions and supports given to various projects by Binance. Accordingly, it has the potential to lead to unexpected leaps in the future. One of them is the QUICK token.
Binance completes QUICK token swap and revaluation
In a recent development, Binance announced the successful completion of its token swap and revaluation plan for altcoin QuickSwap (QUICK). The token experienced rapid price increases following Binance’s decision to support QUICK’s token swap and revaluation.
As part of the revaluation plan, 1 former QUICK token holders received 1,000 new QUICK tokens. Binance has launched deposit and withdrawal services for new QUICK tokens, ensuring smooth trading.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow on. Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. Therefore, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.