- Binance ranks as the highest crypto trade with 53% of individuals utilizing it.
- The 2024 Crypto Survey confirmed that Coinbase and Kraken are utilized by part-time merchants.
- Bitcoin, Ethereum and L2 initiatives are the most well-liked funding subjects.
Binance has been named the highest world trade of 2024, in keeping with a brand new report from CryptoQuant. Coinbase has taken the highest spot within the US, in keeping with a brand new report from CryptoQuant.
CryptoQuant’s 2024 Cryptocurrency Survey revealed that 53% of members use Binance as their main trade. This makes it the most well-liked trade world wide. Moreover, 51% of respondents stated they made probably the most cash on Binance, and 48% stated they held most of their belongings on Binance.
Associated: Cryptocurrency trade rating: Binance will lead spot buying and selling quantity in 2024
The examine additionally discovered that full-time merchants are extra seemingly to make use of Binance, Bybit, Bitget, and OKX. Half-time merchants choose US-based exchanges like Kraken and Coinbase. Whereas Binance clearly leads the centralized trade trade, Coinbase's benefit is proscribed.
In accordance with information from CoinMarketCap, Binance's 24-hour spot quantity is $28.62 billion. Bybit is in second place with $7.89 billion. Coinbase holds third place with $6.41 billion, adopted by OKX and Upbit.
Associated: Malaysia companions with Binance and UAE to increase cryptocurrencies
2024 Crypto Analysis Highlights
CryptoQuant's 2024 Cryptocurrency Survey discovered that Bitcoin, Ethereum, and Layer 2 initiatives are the most well-liked amongst traders. Nevertheless, the examine additionally reveals that the combination of synthetic intelligence (AI) and blockchain is turning into more and more vital for innovation and funding.
The survey additionally revealed that 76% of members choose spot buying and selling over different crypto services corresponding to derivatives and staking. Apparently, the “earn” merchandise provided by many exchanges stay unpopular. Solely 28% of customers stated they use these merchandise.
Lastly, the survey discovered that “Do Your Personal Analysis” (DYOR) is the commonest method to cryptocurrency investing. This means that the market and its members are maturing. Most cryptocurrency customers are younger, skilled, and educated. 60% are between 25 and 44 years outdated, and 62% have greater than 3 years of expertise within the trade.
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