- Binance consistently receives the highest altcoin inflows after market rallies, far surpassing other exchanges.
- The exchange dominates stablecoin deposits, especially with record USDT inflows on the TRON network.
- Binance’s strong infrastructure and liquidity make it the top choice for traders during periods of high market activity.
Analytical platform CryptoQuant has highlighted that Binance has become the most popular exchange for receiving altcoins and stablecoins. The most number of transactions are always done on the platform, particularly during times of significant market rallies.
This analysis reveals that, on average, there is a sharp increase in transactions involving the inflow of altcoins to exchanges following significant market rallies. These spikes typically indicate that traders are attempting to realize profits. This action typically correlates with short-term price spikes and a high volume of transactions. Binance is the primary beneficiary of such inflows, which account for the majority of transaction volume.
Altcoin Activity Peaks on Binance
In the November-December 2024 rally, the role of exchange as a market leader was also seen even stronger. This exchange reached the highest daily inflows of 59,000 altcoin transactions. Comparatively, Coinbase covered 26,000 and the rest of the exchanges 24,000. This data reiterates the fact that exchange is the leader in altcoin trading.
Source: X
The most significant counter is the increase in the number of addresses unique to altcoin outflows to exchanges during periods of healthy rallies. Binance retains the top spot, with a maximum of 42,000 altcoin addresses sending altcoins to its exchange. Coinbase came in second with 21,000, and the rest of the exchanges got 18,000. Based on this trend, Binance is the go-to altcoin exchange during times when there is high activity in the market.
Binance continues to lead inflow transactions even in these under the radar times. The data indicate that platform processes approximately 13,000 altcoin inflow transactions. Coinbase does between 6,000 and other platforms do about 10,000. This constant movement reflects a well-developed infrastructure and a wide liquidity at platform.
Stablecoin Surge on Binance
The market leadership of exchange can also be seen in stablecoin inflows. Binance has obtained nearly 53,000 stablecoin transactions on the Ethereum network. Coinbase ranks second with 42,000, Bybit ranks third, with 28,000, and OKX with 11,000. All the other exchanges have a share of 53,000 additional transactions. These figures indicate the place where the traders are depositing their money in anticipation to make a move in future.
Source: CryptoQuant
The exchange commands even a bigger share on the TRON network. It had 384,000 transactions of the USDT inflow in the last week alone. Bybit was next with 321,000 and HTX with 163,000. This pattern suggests a significant role for Binance in the trading domain, particularly with stablecoins such as TRON-based USDT.
Similarly, the overall dominance of exchange in maintaining continuous leadership in altcoin and stablecoin inflows reflects the high level of users and its developed infrastructure. The exchange is still the main entrance to Capital, becoming part of the crypto market as traders keep on coming to it as a source of liquidity and to trade.
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