As has become the norm, crypto exchanges Binance and Coinbase are the two largest cryptocurrency trading platforms and have been in direct competition for some time now, with Coinbase being slightly better. However, the lead analyst of Blockware Solution, Will Clemente, decided to analyze the number of Bitcoins held on these two platforms and found that it was Binance that officially became the exchange where the most BTC is held in the world, thus surpassing its competition. This is a very interesting finding considering that Coinbase is a much older crypto exchange, as it was founded back in 2012, with Binance only in 2017.
According to many experts, we can attribute this recent success mainly to high-profile partnerships, such as the partnership with soccer star Cristiano Ronaldo on a multi-year NFT contract or their collaboration with famous TikTok creator Khaby Lame, which had to do with raising awareness of the crypto sector. Currently, Binance is the largest crypto exchange in the world with 13.5 million active users, and at the same time, it received regulatory approval in Dubai in March, Bahrain, France, and Italy in May, as well as in Spain in July.