Binance just broke $12 billion in daily trading volume in a 24-hour period – a new record for the leading crypto exchange.
Binance chief executive Changpeng Zhao says his firm reached its prior all-time high around the peak of the last parabolic crypto bull run in 2017.
Binance did not offer derivatives trading at that point, but now its futures platform maintains 25% of all crypto futures volume.
“Last time we seen [this level] was in Jan 2018, if memory serves me correctly.
We have seen ATH in trader numbers for a while, but volume wise, today is a new record.”
wow, $12 billion! pic.twitter.com/tlYJJyOjuF
— CZ Binance 🔶🔶🔶 (@cz_binance) April 30, 2020
With volume soaring, crypto exchanges are working overtime to keep their operations running smoothly.
Zhao says Binance’s operations in China were hit with a denial-of-service attack on Wednesday.
Meanwhile, leading US crypto exchange Coinbase and Coinbase Pro experienced intermittent downtime for a two-hour period, also on Wednesday. The issues were swiftly resolved and access to both platforms was restored.