Both binance like Coinbase experienced a positive improvement in February, but they have undergone competition. Crypto market factors could lead to contraction.
Binance and coinbase for most CEX
Centralized exchanges (CEX) are an essential part of the cryptov grounds and an important indicator of health. At the end of 2024, CEX trading volumes climbed to $ 6.4 billion from T4 dollars.
However, the gentle presence of the market caused confusion over prices. According to the new CEX Report, Traffic fell sharply, while the main companies such as Coinbase and Binance were particularly affected (-30 %).
The crypto platform traffic has fallen by about 20 %, so Binance and Coinbase bad students. However, these two exchanges remain those that have the highest volume of transactions.
However, the operation of users is an extremely important indicator for exchange. It may be worrying when performance is under the main opponents.
Coinbase, one of the largest CEX in the world, dropped even more than bybit in February. This, while Bybit was the victim of the greatest hacking in the history of crypto at the end of February, resulting in loss of traffic.
In March, a large number of its users moved to Binance, but in February it may not be fully achieved. In addition, with light messages on its side it would be more logical than Coinbase doing better than bybit. It recalls the company that the company saw the SEC left the main proceedings in February. However, as the news comes from 27 February, the results can be seen in March.
Binance has not experienced as great news as Coinbase. However, the valuation also multiplies a possible extract, especially in connection with the network PI. However, the votes of investors will be established for future extracts and the elimination of future exchanges.
In other words, a decrease in CEX operation and the volume of trading could be a lower character. Despite all, some platforms managed to get a good result. This is especially the case of OKX, which increased by 15 %, but also bitget, which increased by 6 %. However, most of the largest exchanges have seen a decline in their performance.
Therefore, in recent weeks, the crypto market for investors has attracted less than usual. This is probably due to price uncertainties and significant courses.
Like the crypto market, good news did not help CEX to revive their activity by the volume of transactions down. The fear that persists from the crypto market could also undermine the results of Binance and Coinbase in March.
Morality of History: When the market is uncertain, the decline looks like an epidemic.
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