Binance has announced a historic milestone, achieving an all-time trade volume of $100 trillion earlier this month. The leading crypto exchange celebrated this achievement with a message on X, thanking its community for their “continued trust and support.”
Binance’s Latest Key Milestones
The company emphasized its commitment to improvement and stated, “We keep building, because y’all deserve nothing but the best.” CEO Richard Teng also shared the news on X, noting, “Earlier this month, the all-time trade volume on #Binance surpassed $100 trillion!”
He reassured users that despite market fluctuations, the exchange will “keep building” to meet their expectations. The increased trade volume is expected to boost the exchange’s revenue significantly. It’s because the exchange charges fees on each transaction conducted on the platform.
#Binance reached a historic milestone of $100 trillion in all-time trade volume, earlier this month.
We owe it all to our community—thank you for your continued trust and support.
We keep building, because y’all deserve nothing but the best. pic.twitter.com/WCyiUrDbk1
— Binance (@binance) September 24, 2024
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In a separate development, the exchange is collaborating with Indonesia’s Criminal Investigation Agency (Bareskrim) to tackle fraud in the region. The agency, a central executive body of Indonesia’s Police Force, successfully disrupted a significant scam operation, aided by Binance’s Financial Intelligence Unit. This partnership has led to the identification of multiple suspects and the seizure of approximately $200,000 in ill-gotten funds.
BNB Price Struggles
Despite the significant achievements bagged by the leading exchange, its native token, BNB is struggling amid increased crypto market volatility. At press time, the BNB price was up by 0.28%, reaching $607.32 on Tuesday, September 24.
Nonetheless, it’s important to note that after the announcement of the latest $100 trillion milestone, BNB extended into the green territory. It recovered from a low of $601.04 and peaked at $608.54 in the past hour. Also, in the last seven days, BNB showed a remarkable rally, gaining over 11% amid the optimism around the 50 bps Federal Reserve rate cut.
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