Swiss National Bank (SNB) President Martin Schlegel announced at the 2025 General Assembly that the bank has rejected adding Bitcoin to its reserves. He pointed to concerns over liquidity and volatility risks as the main reasons for the decision. However, the SNB still has indirect Bitcoin exposure through its investments in companies like Tesla, MARA Holdings, and CleanSpark, as of the end of 2024. The bank remains cautious about direct Bitcoin holdings. Contine Read
Despite regulatory hurdles and listing concerns, a new report from TokenInsight shows that Binance is comfortably leading the CEX market. Increasing competition from MEXC and Bitget saw Binance’s market share drop 1%, but it still dominates more than one-third of the CEX trades.
The firm dominates in every metric that the report examined, from market share to public notoriety. It leads both in spot and derivatives trading volume and maintains the most stable ratio between the two of any CEX.
However, the exchange had a strong Q1 2025, as its trading volume continued to dominate one-third of the CEX market.
“Binance maintained its market-leading position in both quarters, with a trading volume of $9.95 trillion in Q4 2024. Due to market volatility, its trading volume in Q1 2025 was approximately $8.39 trillion. Binance continued to lead in market share, holding 36.5% in Q1 2025,” the report claimed.
In terms of total market share, Binance isn’t completely surpassing the CEX market. In fact, its control actually decreased by 1.38%.
No other exchange saw this level of decline, as Bybit only lost 0.89% after the infamous hack. Nonetheless, most of the biggest CEXs also declined slightly, and none of the growing exchanges managed to compete with its head start.
Binance Is Larger than Any CEX. Source: TokenInsight
Binance accounts for nearly 36% of the CEX market share, but this isn’t its only advantage. It also leads in both spot trading and derivatives volumes, controlling 45% of the former and maintaining a 17% lead with the latter.
Additionally, TokenInsight determined that it had the most stable platform structure, keeping its ratio of spot to derivatives trading very consistent.
The firm also ranked number one in open interest market share, but this was its least comfortable lead. However, TokenInsight identified a few intangibles that significantly impacted Binance’s CEX performance.
Crypto Spot Market Share. Source: TokenInsight
In its list of noteworthy industry events for Q1 2025, Binance was mentioned more than any other exchange. In one such mention, Forbes listed it as one of the world’s most trusted crypto exchanges.
Overall, despite ongoing regulatory scrutiny in several different regions, the exchange seemingly holds a firm grip on the market.
Cardano has noted significant whale activity over the past 24 hours, aligning with the broader market recovery. During that period, the total crypto market capitalization has added another $50 billion, signaling renewed bullish momentum.
As bullish pressure strengthens, ADA appears poised to re-commence an upward trend.
Cardano Sees Heavy Whale Accumulation
On-chain data shows that Cardano whales, holding between 100 million and 1 billion coins, have acquired 190 million ADA in the past 24 hours. This cohort of large ADA investors currently holds 3.22 billion coins.
When whales increase their coin holdings, it signals strong confidence in the asset’s future price potential.
Large-scale accumulation like this would reduce ADA’s available supply in the market, which can drive up its price if demand remains steady. The trend indicates a bullish outlook, as whales typically buy in anticipation of higher prices.
ADA’s Network Realized Profit/Loss (NPL) further supports this bullish outlook. At press time, it stands at -15.87 million.
This metric measures the net profit or loss of all coins moved on the blockchain depending on their acquisition cost. When an asset’s NPL is negative, many investors are holding at a loss.
This situation is known to reduce the selling pressure in the market, as traders may choose to hold their assets instead of realizing losses, which could support a potential price rebound.
The steady dip in ADA’s NPL indicates that many holders are sitting on unrealized losses. To avoid selling at a loss, they may choose to hold onto their investments, reducing selling pressure. The increased holding time could, in turn, drive up ADA’s price as supply tightens in the market.
ADA’s Buying Pressure Increases—Will It Fuel a Price Breakout?
At press time, ADA trades at $0.72. On the daily chart, the coin’s Chaikin Money Flow (CMF) is in an uptrend and poised to cross above the zero line, highlighting the rise in buying pressure.
The indicator measures fund flows into and out of an asset. When it attempts to break above the zero line, it signals a potential shift from selling pressure to buying pressure.
If the breakout is sustained, it would confirm strengthening bullish momentum in the ADA market and hint at a potential price uptrend. In this case, the coin’s price could rally toward $0.82.
