Binance Capai Trading Volume 100 Trillion US Dollars, Shocking Record
JAKARTA - Binance, the world's largest crypto exchange, has just set a surprising new record. Binance CEO Richard Teng announced that the total trading volume of this platform has reached fantastic figures, which is 100 trillion US Dollars (Rp 1,500,000 trillion). This achievement places Binance well above other global financial standards, such as the overall market capitalization of the S&P 500 index. This success not only reflects Binance's dominance in the crypto market, but also shows the huge potential that this industry has.
The figure of 100 trillion US Dollars (Rp1,500,000 trillion) is not just a new record for Binance, but also makes this exchange more than double the market capitalization of one of the major stock indexes in the United States, namely the S&P 500. With this achievement, Binance further strengthens its dominance in the crypto market, surpassing its competitors with a huge difference. This shows that Binance is not only able to survive in the midst of intense competition, but also continues to grow and lead the market.
Binance's current success stems from the establishment of this exchange in 2017 by Changpeng Zhao (CZ). With user-friendly interfaces and attractive cost structures, Binance quickly gained popularity among crypto users. Through a successful initial coin offering (ICO) with a fundraising of 15 million US Dollars (Rp226 billion), Binance took advantage of the capital to accelerate its growth and international expansion.
However, the journey to success is not always smooth. Binance faced major challenges, including hacking of 7,000 BTC, regulatory supervision from various authorities around the world, as well as fines of 4 billion US Dollars (Rp 60 trillion). However, Binance managed not only to survive, but also continued to grow. In fact, the arrest of the founder of CZ did not stop the company's growth rate. This success shows the resilience and adaptability of Binance in facing various challenges.
Today, although Binance's daily trading volume is down to 13 billion US Dollars (Rp196 trillion), this figure is still eight times larger than its closest competitor. Binance's dominance in the crypto market is driven not only by large trading volumes, but also by the company's innovation and resilience facing various regulatory and security challenges.