Binance, the world’s largest crypto exchange, released a report showing the most actively traded crypto assets by big movers in 2020.
The Crypto Trends 2020 report states that Binance recorded an all-time high of $ 3 trillion in total trading volume. The total market cap of the crypto market has increased more than 3.3 times, from an average of $ 193 billion to over $ 640 billion. This increase led to a dramatic expansion.
Bitcoin (BTC), Ethereum (ETH), (XRP), Binance Coin (BNB) and Cardano (ADA) have been the most traded crypto assets by crypto whales on Over-the-Counter (OTC). This is because Binance OTC provides investors with access to deeper liquidity, quick reconciliation and quick quotes.
Most Popular Trading Pairs on Spot Exchange
While BTC / USDT, ETH / USDT, ETH / BTC, XRP / USDT, BTC / BUSD, the most popular currencies held in the exchange were BTC, BNB, and ETH.
In peer-to-peer exchange, the popularity and highest trade activity came from Asia, Africa and Eastern Europe. Merchants focused on bypassing transaction fees and sending and receiving low-cost cross-border payments.
The UK, Africa, and Russia, and the CIS used fiat gateways on Binance through bank accounts, credit and debit cards. This way, more activity was recorded from traders who bought and sold cryptocurrencies.
Bitcoin is still the king of the market, with 66% dominance, but Ethereum has seen impressive growth, especially due to its central role in the DeFi market.
In addition, Binance Futures, which offers one of the largest futures contracts in the crypto industry, began to attract attention. It has become the preferred choice for many traders.
The most traded futures pairs were BTC / USDT, ETH / USDT, and LINK / USDT, while the most traded leverage tokens by volume were LINKDOWN / USDT and XRPUP / USDT. The top five cryptocurrencies used for crypto loans include USDT and BUSD stablecoins, followed by KAVA, SXP and NEO.