Binance recorded $409B in spot trading volume for January — marking a solid +12% increase compared to December’s $365B.
That’s not typical retail-driven activity.
While several exchanges experienced uneven flows, Binance strengthened its dominance, capturing nearly half of the total major exchange volume. During a month when overall spot trading rose to $931.8B (+10.3%), Binance wasn’t just active — it was setting the pace.
What does that suggest?
Liquidity is becoming more concentrated.
Capital is shifting.
Large players are building positions.
When volume expands without widespread excitement or major headlines, it often reflects calculated accumulation rather than emotion-driven buying.
Institutional capital usually moves ahead of the narrative.
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