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Binance close to hitting an all-time high for new users following the halving

 
Binance close to hitting an all-time high for new users following the halving
Exchanges / Breaking News / Bitcoin / BTCUSD
  • Binance has almost hit an all-time high as it continues to reach every corner of the world by facilitating crypto trading in different jurisdictions. 
  • This comes as more countries warm up to crypto and ease their regulatory stance to this new technology.

One of the biggest crypto platforms in the space, Binance has almost hit an all-time high in new user registrations as it continues to reach every corner of the world by facilitating crypto trading in different jurisdictions. This comes as more countries warm up to crypto and ease their regulatory stance to this new technology. 

The platform has seen quite an increase in its activity over the past week in the run-up to the halving event as well as after it with old inactive users even jumping back on the bandwagon and starting to trade again. The CEO and founder of the platform, CZ said during the Consensus: Distributed earlier this week:

“The new user registrations are picking up very aggressively, like getting close to the sort of generated under 2018…All of those indications are very clear, the activity level is definitely much higher than even three or four months ago.”

The American arm of the exchange, Binance.US is still adapting to the national regulations that are in process. CZ considers this is a slow process as he says, “It’s just a lengthy process in the U.S. to go through all of the regulatory compliance work. Hopefully we will get there and continue to enrich the product.”

Even with all the turmoil brought on due to the coronavirus impacting the world economies, 2020 seems to be a good year for the platform. As it grows in both adoption and volume, the exchange is looking to position itself as the number one crypto platform for the space.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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