Recently, trading volumes on crypto exchanges offering USD pairs have significantly increased, indicating a resurgence of interest from American investors.
General Trends on USD-Backed Crypto Exchanges
Trading volume on platforms offering direct trading in USD pairs and stablecoins like USDT and USDC reached $279 billion. Market leaders such as Crypto.com, Coinbase, and Kraken remain strong, while smaller exchanges are also beginning to benefit from growing volumes.
Impact of American Investors on the Global Market
Despite facing restrictions on many global platforms, US users account for over 10% of global trading volume, highlighting their influence on the market. This trend indicates that interest in cryptocurrencies in the US remains high.
Binance’s Return to the US Market and Its Consequences
Recent announcements by the US Commodity Futures Trading Commission (CFTC) regarding regulations on offshore exchanges have raised expectations that American users will regain access to platforms like Binance. This could seriously shake the current market balance, considering the $850 billion in monthly volume currently inaccessible to US investors on Binance and Bybit.
The increase in trading volume on USD-backed exchanges highlights the importance of American investors and the potential for market changes with the possible return of platforms like Binance.
