- The market share of Binance Wallet surged to 55.6% after processing $116M in transactions.
- Binance Alpha 2.0 and zero-fee trading contributed to the increase in user activity.
- CZ’s donation of 500 BNB aimed to support earthquake victims in Thailand and Myanmar.
On March 28, 2025, Binance Wallet achieved a milestone by processing $116 million in on-chain transactions. This figure stands for 55.6% of the total trading volume across all tracked wallets, cementing the wallet’s position as the conquering force in the cryptocurrency market. The surge in activity was driven by several key developments, including the launch of Binance Alpha 2.0, zero trading fees, KiloEx’s public token sale, and the temporary suspension of OKX’s DEX aggregator.
Binance Wallet’s Market Share Surge
The data from CryptoRank.io reveals a sharp rise in Binance Wallet’s market share, peaking at 55.6% on March 28, 2025. Before this date, Binance Wallet had consistently maintained a strong position, but this spike in volume further solidified its dominance. Competitors such as Bitget Wallet, OKX Wallet, GMGN, and BullX remained far behind, with none surpassing 20% of the market share during this period.
The increase in market share underscores the establishment of further ground for Binance Wallet over other competitive wallets. As stated, this data is from CryptoRank.io, one of the analytics platforms in the cryptocurrency sector, which has recorded transaction volumes across multiple wallets.
Key Drivers Behind the Surge
So many things contributed to Binance Wallet’s impressive trading volume. With the introduction of Binance Alpha 2.0, a new feature update, users were allowed to perform transactions easily within the Binance ecosystem. Due to this modification, on-chain purchases were carried out seamlessly without recourse to an external wallet, hence serving the user’s purpose for a hassle-free crypto transaction.
Further, with zero trading fees, traders were encouraged to use Binance Wallet, as it made trading on the platform more appealing financially. Additionally, KiloEx’s public token sale attracted significant user activity, as traders rushed to participate in the sale of the new token.
Furthermore, the temporary suspension of OKX’s DEX aggregator likely redirected user flow toward Binance Wallet. This redirection boosted Binance’s trading volume and market share even further as users migrated from OKX to Binance.
Related: Hackers Sell Gemini and Binance User Data on Darkweb: Report
Binance Co-Founder CZ Donates to Earthquake Relief
Taking an innovative move, Changpeng “CZ” Zhao, the ex-founder of Binance, announced making substantial funding in the wake of the deadly earthquake of March 28, 2025. He announced that he would be donating 500 BNB in value, amounting to $624,366.50, towards earthquake relief efforts in Thailand and Myanmar.
The earthquake caused sever damage, especially at Mandalay, Myanmar’s second-largest city. Many have suffered as a result of floods and buildings collapsing, and around 144 were confirmed to be dead, while others were injured. CZ’s donation is geared towards helping the victims of the calamity. In the case where there is no on-chain third-party platform available, the donations will be paid to the affected persons with the assistance of Binance and Binance Thailand.
