According to CryptoQuant's on-chain data, counterfeit products now account for 60% of Binance's total trading volume, the highest level since early 2025. Both Bitcoin and Ethereum have a transaction share of only 20%, far below previous levels.
This reflects a large concentration of actual trading activity outside of mainstream currencies. Historical data shows that the increase in the share of counterfeit products transactions often coincides with the increase in market speculation. The current volatility of bitcoin and many counterfeit products has increased significantly, and market participants may be using volatility to trade or bet on the price of counterfeit products.
60% of Binance transactions come from counterfeit products, a new high for the year
2025-11-21 02:09:12
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