Binance Traffic at All Time Highs

[BTC Future 3946]

Binance CEO "CZ" (Changpeng Zhao) tweeted a couple of days ago that the Binance exchange is experiencing high traffic never seen since 2017. This can be an extremely bullish indicator as it means that interest for Bitcoin and cryptocurrencies is very high currently. CZ tweet:

 

 

Looking at Alexa statistics on Internet traffic this statement by CZ is confirmed and Binance traffic seems to be rising. This can be considered another bullish case and a good sign for the future. Interest in Bitcoin is above 2019 highs and perhaps the growth of price along with Bitcoin hitting a new ATH by the end of the year will bring it back in the headlines of mainstream media. 

Edited August 20, 2020 by BTC Future

[Whited35 15285]

Recently a data firm released the highest realized price of Bitcoin it means BTC circulating supply are scattering towards the small investors. We all are expecting the impressive bullish sentiment for Bitcoin and other cryptocurrencies in the cryptocurrency markets. So many indicators are giving the green sign for BTC's possible skyrocketing price. Not only Binance, Bittrex is also facing the overload. It is interesting to see, most of the investors are not facing the selling pressures.

[Raqeebzy 6456]

Higher than December 2017 might logically means we are likely to see a bullish trend like the 2017's. There has been a massive growing interest in bitcoin especially in the second quarter of the year; I think realising a new ATH of BTC value is inevitable in this year, it might just be a matter of how close; there is has been some serious buy signals. The is just the beginning, nothing can stop BTC for now.

[BTC Future 3946]

55 minutes ago, SilverF said:

Recently, there was an increase in the volume of the market, if I am not mistaken I oscillate or exceed 50 billion dollars in 24 hours, speaking only of bitcoin, now we see an increase in the traffic of exchanges houses, this will be the beginning of a bullish arc that brushes the old bubble of a few years ago?

I'm sorry but I didn't understand correctly. If you are using a translator then some words might not have the same meaning between english and other languages. 

About the volumes though, which I think is your main point, the fact is we do not count them anymore in any analysis for these reasons:

• Most exchanges report fake volumes for their own reasons
• Whales can washtrade as well and create a sense of rising volumes
• There are OTC and P2P markets that indexes as cmc and coingecko do not count these trades
• There is Grayscale and institutional OTC trading markets that is not counted as well

So we can't know for sure if any of the volumes we read about are real or not.

 

[BTC Future 3946]

3 minutes ago, Moneyguru said:

when demand increasing, supply decreasing the price will keep rise

Exactly. Even miners are not selling currently. Even when they sell they do not have the same effect as before the halving and the new Bitcoins reaching exchanges are absorbed easily. 

There are institutions buying through Grayscale. Pension funds, and other organizations that do not buy to sell the next day. These funds hold for many years. There is high interest and perhaps there are hopes for a huge rise of price. My concerns though are the US economy which usually when stocks go down they drive everything else with them, and the altcoins that have risen a lot and don't allow Bitcoin to escape far in dominance.

[BTC Future 3946]

2 minutes ago, SilverF said:

Sorry, my English is not very good,

Not a problem. I asked for verification. I assumed it was about volumes. If we knew the real ones I could answer. I know though for sure that what Grayscale is providing is real. There is huge institutional interest in Bitcoin in the USA and this is very bullish.

[Moaz 7239]

I completely agree with you, there is a great interest in Bitcoin in the recent period, especially by investors who buy large amounts of Bitcoin, and this is the main reason for the rise in the price of Bitcoin over the past weeks, and this was confirmed by the CEO of Binance,  I think that at the end of this year Bitcoin will witness an unprecedented rise and may exceed $ 20,000

[BTC Future 3946]

5 hours ago, Moaz said:

I think that at the end of this year Bitcoin will witness an unprecedented rise and may exceed $ 20,000

I think it could be. From what it looks now price is held low artificially. There is not much selling going on, but all these large buyers are buying OTC and price is not affected much. Once these Bitcoins run out then there will be only spot exchanges where noone is actually selling.

[BTC Future 3946]

21 minutes ago, ndadukun12 said:

Also there are countries like India which have allowed it's citizens to invest in crypto. Binance is the most popular exchange and I guess that is the reason why it is receiving a very amount of traffic.

Yeah perhaps. Although I was thinking that India already has established exchanges based there as Wazirx (which also belongs to Binance) so perhaps there is no need to use the Binance one. Still since there is no KYC requirements probably too many decided to make an account there as well, perhaps because of the giveaways and airdrops binance makes to BNB holders.

[Ridam 7455]

Exchange getting huge traffic sure means more people are coming for Crypto. And we may see the highest price for btc this year.As the Global economy is in huge danger and Even Warren Buffet inform about it and he is moving his investment towards Gold. Sure many following him would choose Crypto for next investment. And only Crypto market is booming at this time, the intellectual people have already choosed Crypto for further investment so let's be ready for ATH of Bitcoin.

[rekter 8129]

I am wondering what they mean by system traffic? Like individual new ips or trading bot activity or what? Bot activity should be high as they have offered pretty good prizes on their trading competitions.

[duncun007 3577]

29 minutes ago, Ridam said:

Exchange getting huge traffic sure means more people are coming for Crypto. And we may see the highest price for btc this year.As the Global economy is in huge danger and Even Warren Buffet inform about it and he is moving his investment towards Gold. Sure many following him would choose Crypto for next investment. And only Crypto market is booming at this time, the intellectual people have already choosed Crypto for further investment so let's be ready for ATH of Bitcoin.

I wish I can be as optimistic as everyone now with this bullish market, but to me i think im starting to be a little bearish around here, i think we need claim 12k again and make new highs so people keep coming

[Masterrex 559]

That's good news I'm a Binance users that's why I believe in that info. Im using Binance on daily basis and even the volume is soaring higher too I'm usually traded XRP and other tokens and I notice that more and more traders are also engaging in trading these days compared before. that's  why the Alexa ranking was already speak about the interest of traders in the Binance exchange.  

[malik6314193 5449]

Binance is best and top exchange of crypto currencies. And now it is experiencing high traffic so it directly mean that next bullish of bitcoin is comming in next month. So it is best time to invest your money .

[Calvinpriva 17296]

This is a good sign to bitcoin because some large exchanges and trading sites, their traffic have been increasing in a big percent. Even P2P platforms like Paxful and Localbitcoins, am a trader there and many times i sell bitcoins in different prices until my balance becomes empty! So there is a large number of traffic that has increased in crypto world especially bitcoin which is a good sign if we are not wrong.

[Mwangi 5611]

There is nothing more important in this world than to have a beatiful traffic , it gives you a lot of courage and in the end its what helps us to keep going , the right idea is to really define what we have seen this kind of traffic as compared to others its really important to try and see this

[Omar Ommeish 4872]

There is a lot of liquidity entering cryptocurrencies every day, and I think the reason is that everyone has become obsessed with trading or storing cryptocurrencies.

[CryptoDemon 370]

23 hours ago, Ridam said:

Exchange getting huge traffic sure means more people are coming for Crypto. And we may see the highest price for btc this year.As the Global economy is in huge danger and Even Warren Buffet inform about it and he is moving his investment towards Gold. Sure many following him would choose Crypto for next investment. And only Crypto market is booming at this time, the intellectual people have already choosed Crypto for further investment so let's be ready for ATH of Bitcoin.

Since the corona virus is spreading and forces everyone of us not to come outside of our house, people tends to work online and the best job is with crypto currency.

[Teminali69 1081]

If i guess right, that means in less than five years, cryptocurrencies would be a one big thing, and more adaption would premier.

[BTC Future 3946]

On 8/21/2020 at 6:14 PM, Masterrex said:

I notice that more and more traders are also engaging in trading these days compared before.

It is looking better by all terms. I see that in most of the exchanges I use to trade. I think that yobit has a lot more active traders today as well. 

Perhaps it is a good sign, or we will all start losing if whales decide to. Anyway, exchanges are certainly having high traffic currently, although noone knows the actual volumes as there is too much washtrading. Also there is trading OTC which we can't know either.

[iloveyobit 6599]

This is just as it is expected that the prices of currencies in the future will be double the rates they were in 2017.this is gonna be very exciting and i cant wait to see the bullish market 

[Guru2050 8284]

No doubt and it's not a surprise thing to me because an exchange site like a binnance that's popular and ranked among the best and outstanding exchangers in Crypto world, very reliable, tested and trusted, simple, safe and transparent in terms of making transactions. It's my number one exchange site, follow by yobit and last Coin base.

[Maaz sultan 265]

On 8/24/2020 at 12:50 AM, iloveyobit said:

This is just as it is expected that the prices of currencies in the future will be double the rates they were in 2017.this is gonna be very exciting and i cant wait to see the bullish market 

Its happen one day and now the world is connected with internet and become like a global village So, by the time when new peoples listening all the benefits of these profitable currencies they come and take the advantage of these currencies therefore soo many Binance as whole crypto users become more and more . With all Respect .

[Bulver 100]

I think the Binance exchange has very good marketers and the name itself can serve as a successful start and promotion of this crypto exchange. Traffic is growing not only because of this, but also because more and more famous personalities are starting to make posts recommending the use of binance.

[Captain Karim 0]

Yes, Bitcoin has been in the forefront of the media in the recent period and has been considered the best investment for 2020, perhaps we will see a new historical peak in 2021 and the price of Bitcoin exceeds $ 20,000 due to the halving event and the reduction of the mining reward in half.