Binance has once again cemented its position as the leading cryptocurrency exchange, surpassing $100 trillion in combined spot and derivatives trading volume. This milestone has further fueled speculation about a potential rally in Binance Coin (BNB), which is currently priced at $597, with analysts predicting a surge toward $800.
Binance Achieves Historic $100 Trillion Trading Volume
In a major achievement, Binance became the first centralized exchange (CEX) to reach $100 trillion in trading volume, according to CCData. This massive volume includes both spot and derivatives markets, showcasing Binance’s dominance in the crypto world. The surge reflects growing interest in digital assets and highlights Binance’s ability to attract capital flows into the crypto sector.
Binance now sits at the top of the crypto exchange leaderboard. In comparison, OKX, the second-largest exchange, has a lifetime trading volume of $25 trillion. FTX, despite closing its operations in November 2022, remains the sixth-largest exchange by volume, thanks to the high activity it had before shutting down. Other major players include Bybit and Bitget, with volumes of $13.2 trillion and $10.9 trillion, respectively.
Expanding Mobile Money Options in Africa
In addition to its trading success, Binance has expanded its operations in Africa by integrating mobile money payment options in six countries: Benin, Cameroon, Ivory Coast, the Democratic Republic of Congo, Togo, and Senegal. This expansion allows users in these regions to purchase cryptocurrencies via mobile money, offering a more accessible entry point to the digital economy.
This move follows the success of Binance’s “One Click Buy and Sell” (OCBS) service, which was launched earlier this year in other African nations. The focus on Africa underscores Binance’s commitment to improving financial inclusion across the continent.
BNB Price Eyes Potential Rally
As Binance continues to expand and dominate the market, attention is turning to the price of its native token, BNB. Currently trading around $597, BNB has shown strong resilience, even in a volatile market. Analysts are closely watching the $620 resistance level—if BNB breaks through, a rally toward $800 could follow, representing a potential 35% increase.
At the time of writing, Binance Coin is up 3.61% over the past week, with a market cap of $87.16 billion and a 24-hour trading volume of $1.48 billion.