Introduction

• Binance is an online exchange where users can trade cryptocurrencies. It supports most commonly traded cryptocurrencies. Binance provides a crypto wallet for traders to store their electronic funds. The exchange also has supporting services for users to earn interest or transact using cryptocurrencies.
• One of the largest cryptocurrency exchanges in the U.S., Coinbase is a place to buy, sell and hold digital currencies like bitcoin and ether. Now that cryptocurrency has gone more mainstream, there are several ways to buy and sell coins on your own, whether it be via Venmo, Cash App or a trading app like Robinhood

Methodology

My solution for this analyse is using Optimism database availble on FlipsideCrypto and observing interactions between this network with Binance and Coinbase exchanges.

I limited the data for 2022 and used a filter like project_name='binance' to exclude these two exchange for our results.

• On line chart on the left side we see daily number of transacted unique users from Optimism to Binance and Coinbase in which as we see both have some similar fluctuated trends with several spikes that some of them happened at the same time but number of users the Binance as huge difference compared to Coinbase.
  Highest spike of Binance happened on Mar 28, 2023 with 20.7K users and highest spike of Coinbase happened on Jan 5, 2023 with 663 users.
• On line chart on the right side we see daily number of transacted unique users to Optimism from Binance and Coinbase in which as we see Binance is on increasing trend which spikes highest on Mar 16, 2023 with 6.7K users but Coinbase do not show particular trend in which it spiked highest on Mar 1 with 1,040 users.
• According to total stats, Since 2023 about 99K users from Optimism transacted with Binance and around 543K ETH moved to this exchange. Total transactions fee for these assets is 19 ETH. On other hand, Coinbase has so much low volume compared to Binance. About 9.5K unique users have interact with Coinbase which they volume is 11.2K ETH and transactions fee related to this amount is only 2.8 ETH.

• On bar chart on the left side we see weekly number of transacted unique users from Optimism to Binance and Coinbase in which as we see both have similar increasing then decreasing trends in which highest month of Binance happened on 3ed weeks of March with 39.6K users and highest month of Coinbase happened on July with 1,780 users.
• On bar chart on the right side we see weekly number of transacted unique users to Optimism from Binance and Coinbase in which as we see Binance users lost their interact with Optmism for the first month of 2023 and Coinbase shows the same trend line.
• Highest peak of Binance in number of transacted users to Optimism occurred on first week on April with 24K users while highest peak on Coinbase happened on second week of March by 2.7K users.

• On line chart above on the left side we see daily volume of transactions from Optimism to Binance and Coinbase in which as we see Coinbase has small volume but Binance shows a lot of up and down but growth in overall. Among several spikes on volume that occurred on Binance highest peak of volume happened on March 11th with 35K ETH.
  Since the beginning of 2023 lowest amount of ETH that moved to Binance from Optimism is 485 ETH which transferred on Jan 10th.

• On line chart on the right side we see daily volume of transactions to Optimism from Binance and Coinbase in which as we see Binance is on increasing trend which spikes highest peak on Mar 1th, 2023 with 23K ETH but Coinbase do not show particular trend in which it spiked highest on Feb 15, 2023 with 1.5K ETH.

• On bar chart on the left side we see monthly volume of transactions from Optimism to Binance and Coinbase in which as we see Binance has the vast majority on volume compared to Coinbase

• On bar chart on the right side we see monthly volume of transactions to Optimism from Binance and Coinbase in which as we see again Binance has increasing trend unlike Coinbase which do not show any particular trend.

• Highest month of Binance in volume of transactions from Optimism is 114 times more than Coinbase .

• Highest month of Binance in volume of transactions to Optimism is 125 times more than Coinbase .

• On line chart on the left side we see daily fee volume of transactions from Optimism to Binance and Coinbase in which as we see both have similar fluctuated trends with several spikes that some of them happened at the same time like on March 11, 2023 we see a spike of fee volume of transactions from Optimism to both CEXs. Highest spike of Binance happened on on March 28, 2023 with 1.99 ETH and highest spike of Coinbase happened on March 15, 2023 with 0.1 ETH.

• On line chart on the right side we see daily fee volume of transactions to Optimism from Binance and Coinbase in which as we see Binance has increasing trend which spiked highest on March 28, 2023 with 2.3 and Coinbase spiked highest also on March 11, 2023 with 0.28.

• On bar chart below on the left side we see monthly fee volume of transactions from Optimism to Binance and Coinbase in which as we see Binance has huge and strong volume compared to Coinbase as we saw on every metrics on above. Same volume can be spot on transactions fee paid from Binance to Optimism.

• Highest month of Binance in fee volume of transactions from Optimism is 26 times more than Coinbase .

• Highest month of Binance in fee volume of transactions to Optimism is 13 times more than Coinbase .

Conclusion

With results we saw in this dashboard Binance exchange has the vast majority on volume on every metrics such as number of users, transactions,
amount of ETH moved from/to Optimism along with transaction fees paid for them. Coinbase has so much low volume when we talk about comparing it to Binance.
ETH amount that transacted from Optimism to Binance is 49 times more than Coinbase.
On the other hand when we looked at volume transacted from Binance to Optimism we saw 525K ETH as volume while Coinbase has only 9K ETH volume since the beginning of 2023.
On all metrics we analysed highest peak of volume on Binance occurred on March.
Coinbase has almost same volume without any notable trend in it's charts while Binance has a lot of spikes.