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Binance Leads Crypto Market with 59K Altcoin and 384K USDT Transactions: Report
- Binance leads the crypto market with 59,000 altcoin transactions and 384,000 USDT transactions.
- Binance dominates stablecoin deposits, particularly with record USDT inflows on the TRON network.
- Analytical platform CryptoQuant highlights Binance as the top exchange for altcoin and stablecoin transactions, especially during market rallies.
- Binance sees a surge in altcoin transactions following market rallies, indicating profit-taking behavior by traders.
- During the November-December 2024 rally, Binance had the highest daily inflows of altcoin transactions compared to other exchanges.
- Binance retains the top position for unique altcoin addresses sending altcoins to its exchange during market rallies.
- Binance leads in altcoin inflow transactions even during quieter times, reflecting its strong infrastructure and liquidity.
- Binance also dominates stablecoin transactions, with significant activity on both Ethereum and TRON networks.
- The exchange registered 53,000 stablecoin transactions on Ethereum, and 384,000 USDT transactions on the TRON network.
- Binance's consistent dominance in altcoin and stablecoin inflows signifies its popularity and robust infrastructure.
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