I think it’s important to consider the potential implications of Binance having a 51% market-share in the cryptocurrency industry. While it’s true that having a large market-share can be beneficial in terms of liquidity and price stability, it can also lead to a lack of competition and a lack of innovation. This could lead to a situation where Binance is able to dictate the terms of the market and potentially manipulate prices. This could be detrimental to the industry as a whole, as it could lead to a lack of trust and confidence in the market. It’s important to consider the potential risks of having a single entity with such a large market-share.
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Yes from decentralization
No for business point
So what is it?
They have the reputation of being the biggest, people follow what they perceive to be the biggest/safest which kind turns into a snowball effect. They also have 0% fees on BTC and Ether, easy on and off ramp…i don’t know what we can do about it, they are just good and attractive to investors and that got them them that huge market share.
Is it bad that they have such a large portion of the market? i don’t know, but theres a lot of competition and other exchanges are slowly gaining some market share.
Binance’s market share is like a sumo wrestler’s belly: it’s huge, it’s dominant, and it’s hard to move. But is it really a bad thing?
So basically : **YESN’T**
You sound like a professional crypto journalist. Hundreds of words that lead nowhere.
If any other company has a problem with Binances market share then they know what they need to do to take it away from them. Be better. That is how the free market works. There is a reason most people still choose Binance despite all the FUD and shady doings… It is because they still have the best product.
Binance is necessary evil.
Is it bad that Binance could lower trading prices?
I mean, in a sense Binance will do us a favour or no?
Crypto is anti centralisation at its core. It’s not good to have one exchange control over 50% of trading volume
>Due to Binance scale, they can lower trading prices and therefor forcing other exchanges to react.
And when other exchanges are eliminated, they will dictate the rules of the game. This is called predatory pricing. This might be good if you own stock in the company, but not for crypto market in general.
The 51% market share was not handed to Binance. They worked very, very hard for it.
With great Market Share, comes monopoly and manipulation.
It’s amazing if Binance is safe, secure and lawfully doing everything.
It’s extremely risky if they start fucking up like FTX.
Binance is shady but the other CEXs haven’t been much better. For e.g. no one asked the FTX board to deal with shady business practices.
The 2 CEXs that I trust most are Kraken and CB, I hope they get a little more market share
Is anyone really pro binance market share? I don’t think many people will oppose you
binance🔥🔥