Binance 24-Hour Trading Volume and News Highlights: Spot Market Rebounds, Derivatives Under Pressure
Amidst overall volatility in the crypto market, Binance, as the world's leading trading platform, saw its spot trading volume reach $6.88 billion in the past 24 hours, a slight decrease of 0.95% from the previous day, but still maintaining its leading position in the industry. Derivatives futures trading volume reached even higher at $78.4 billion, a 16.02% decrease compared to the previous day, with open interest remaining stable at $26.5 billion, reflecting investors' shift to a wait-and-see approach amid expectations of Federal Reserve interest rates. BTC/USDT contributed the most, with a single-day trading volume exceeding $7.46 billion, followed closely by BNB/USDT with a trading volume of $1.92 billion. The BNB price fell slightly by 2.4% to $888, with a market capitalization exceeding $122 billion.
Frequent news highlights emerged. Binance co-founder CZ and gold advocate Peter Schiff engaged in a heated debate at Dubai Blockchain Week. CZ strongly defended the BTC "digital gold" narrative, while Schiff advocated for tokenized gold, sparking heated discussions in the community, with over 10,000 related posts on the X platform. Meanwhile, Binance launched the "Junior" app, allowing minors to supervise crypto trading. While praised for its educational innovation, it also faced criticism for "targeting children," resulting in polarized user feedback. LUNC experienced a sudden 70% surge, sparked by CoinDesk reporter Ian Allison wearing an "old LUNA" T-shirt at an event, coupled with extradition rumors surrounding Do Kwon, leading to a surge in trading volume. IRYS perpetual contracts saw their price soar by 80% after launch, fueling market speculation of a high probability of spot listing in December.
Furthermore, BPCE, France's third-largest bank, announced support for trading BTC, ETH, SOL, and USDC, benefiting Binance's P2P channel and increasing European user activity by 10%. Analysts suggest that while Binance's trading volume is under pressure, the lingering buzz of blockchain week and new product launches may drive a rebound next week. Investors should pay attention to the BNB ecosystem and be wary of short-term liquidation risks.
