Recent Binance Data Poses An Important Question

Recent Binance Data Poses An Important Question

By Sapphire | Sapphire Crypto | 23 Oct 2021


Binance Volume Skyrockets

Despite regulatory pressure from all sides, Binance has continued to soldier forward. This has not only been a dedicated positive mental approach but also one that has been reflected in the data. Despite Binance canceling certain products and deposits via certain channels in numerous jurisdictions, the exchange is still churning out monstrous volume. During the month of September, the exchange was averaging a daily trading volume of $60 billion to $90 billion. Just recently the exchange crossed the threshold of $100 billion for a single day, which is impressive by any standards.

Remember, this is only one single exchange! It starts to make sense why this particular entity was chosen as an easy target. I have mentioned it before in my writings, when you wish to harm an industry, you hit the leader.

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It appears that an example was to be made of Binance, sending a clear message of expected regulatory scrutiny. Binance has however responded in a way that perhaps surprised some and disappointed others. Either way, it is clear that despite regulatory scrutiny and KYC measures, users are still flocking to the exchange.

Post DeFi

DeFi has experienced a tremendous amount of recognition and growth, which has seen a lot of traditional traders shifting over to DeFi-based models. However, this has not seemed to affect centralized exchanges, probably due to increased adoption and new users entering the space. This poses the question, "Are Dividend Paying Exchange Tokens Still Worth It?". This is what I address in my latest post on the Official Sapphire Crypto Blog.

I also reveal which exchange tokens I am currently holding, with one very special allocation that I am banking on even though it has already had a recent rally of over 100X. During the current bull run, it has surged from approximately $0.03 to $3.26 and is currently trading at $0.53.

You can read more about it here. Thanks for reading, see you in the next one!

Disclaimer

First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.

 

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Sapphire
Sapphire

Interesting views, news, opinions and all things Crypto. Independent and honest assessments of Crypto projects and earning opportunities within the space. Opinions are my own and not financial advice. Sapphirecrypto.org


Sapphire Crypto
Sapphire Crypto

Interesting views, news, opinions and all things Crypto. Independent and honest assessments of Crypto projects and earning opportunities within the space. Opinions are my own and not financial advice.

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