Binance, the largest cryptocurrency trading platform, has seen significant growth following the US elections. The company reported an increase in assets held on their platform, reaching $140 billion, which is the highest level since they began disclosing Proof of Reserves two years ago. Binance’s reserve percentage share has also climbed, reaching a high of 25%, compared to Coinbase’s 33%.
With this growth, Binance could soon challenge Coinbase for the top spot in exchange reserves. The surge in inflows and increased user engagement can be attributed to the platform’s strong position as a preferred trading platform amid rising demand for digital assets and the rise in Bitcoin and Ethereum prices following the election.