COINOTAG News reports that as of November 11th, recent data from DeFiLlama illustrates a remarkable trend for Binance, which experienced net inflows surpassing $1 billion for two consecutive weeks. This surge has propelled the platform’s total inflows for November to over $5 billion, significantly outpacing the second-largest competitor, underscoring Binance’s dominance in the crypto trading landscape amidst heightened market activity. The astonishing performance is complemented by the Binance App, which recorded over 13 million daily visits on November 6th, likely influenced by the buzz around the recently announced U.S. presidential election results.
Additionally, DeFiLlama indicates that Binance has reached a milestone with its user asset holdings now totaling $130 billion, the highest level since the introduction of its proof of reserves policy two years ago. According to a CryptoQuant analysis, Binance’s reserve ratio has also demonstrated significant growth this month, climbing to 25%, reflecting a robust increase from November 2023’s previous ratio of 21%. This data highlights Binance’s evolving strength and stability in an increasingly competitive cryptocurrency market.