Binance Processed $346 Million for Crypto Exchange Bitzlato, Report Claims – Exchanges Bitcoin News
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Binance, the world’s largest cryptocurrency exchange, has reportedly processed over $346 million in transactions for crypto exchange Bitzlato, according to a recent report.
The news was reported by The Block, a cryptocurrency news outlet, which cited data from blockchain analytics firm Chainalysis. According to the report, Bitzlato processed $346 million worth of transactions from January 2019 to April 2020.
Bitzlato is a crypto exchange based in Russia and is one of the largest exchanges in the country. The exchange is known for its low trading fees and wide selection of cryptocurrencies.
Binance, on the other hand, is the world’s largest cryptocurrency exchange and is based in Malta. The exchange is known for its low fees, high liquidity, and wide selection of cryptocurrencies.
The report also revealed that Bitzlato has processed more than $1.3 billion in transactions since its launch in 2017. This is a significant amount of money considering that Bitzlato is a relatively small exchange compared to its larger competitors.
Binance’s involvement in Bitzlato’s transactions is not surprising considering the exchange’s large market share. Binance currently holds more than 20 percent of the global crypto trading market share, according to CoinMarketCap.
The report also revealed that Bitzlato is the second-largest Russian crypto exchange by volume, behind only EXMO. EXMO is another major crypto exchange based in Russia and is known for its low fees and wide selection of cryptocurrencies.
The news of Binance’s involvement in Bitzlato’s transactions is a positive sign for the crypto industry. It shows that even small exchanges can benefit from the liquidity and security provided by larger exchanges like Binance.
It also shows that Binance is willing to work with smaller exchanges to provide users with a better trading experience. This is a welcome development for the crypto industry as it will help to foster more competition and improve the overall trading experience for users.
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