Binance Exchange Trade Data

Binance is a leading cryptocurrency exchange that offers several benefits compared to its direct competitors. One of the key advantages of using Binance is its wide range of available cryptocurrencies. Binance supports a vast number of digital assets, allowing users to easily access and trade a diverse portfolio of cryptocurrencies.

Additionally, Binance offers competitive trading fees. The exchange provides different fee structures, including a tiered fee system based on users' trading volume and the option to pay fees using the native BNB token at a discounted rate. This enables traders to save on transaction costs and maximize their potential returns.

Another notable benefit of Binance is its user-friendly interface and intuitive trading platform. Binance offers both a basic and advanced trading interface, catering to users with different levels of experience. The platform provides various tools and charts to assist traders in making informed decisions.

Furthermore, Binance has a strong focus on security. The exchange implements robust security measures, including two-factor authentication, cold storage for the majority of user funds, and regular security audits. Binance also has a dedicated customer support team that can assist users in case of any issues or concerns.

When compared to its direct competitors, such as Coinbase, Kraken, and Bitfinex, Binance stands out due to its extensive coin offering, competitive fees, user-friendly interface, and robust security measures. However, it's essential for individuals to thoroughly evaluate their specific needs and preferences before choosing an exchange, as each platform may have unique features and limitations.

Overall, using Binance offers users access to a wide range of cryptocurrencies, competitive fees, a user-friendly trading interface, and strong security measures, making it a popular choice among cryptocurrency traders and enthusiasts.

Binance is one of the world's largest and most popular cryptocurrency exchanges. Its platform enables users to buy, sell, and trade a wide range of digital assets. The underlying technology behind Binance is primarily based on the Ethereum blockchain. Ethereum is a decentralized, open-source blockchain that allows for the creation and execution of smart contracts.

Binance leverages the Ethereum blockchain to facilitate transactions and record them on the blockchain. Users can create an account on the Binance platform and deposit their cryptocurrencies into their wallets. These cryptocurrencies can then be traded with other users on the platform. Binance provides a user-friendly interface that allows users to easily navigate through different markets and execute trades.

When a user places an order on Binance, the platform matches the buy and sell orders and executes the trade. The trade is then recorded on the Ethereum blockchain, ensuring transparency and immutability. Binance also offers advanced trading features, such as margin trading and futures contracts, which allow users to leverage their positions and speculate on price movements.

In addition to trading, Binance also offers various other services, including staking, lending, and decentralized finance (DeFi) protocols. These services allow users to earn passive income through interest-bearing accounts or participate in the growing DeFi ecosystem.

Overall, Binance operates as a centralized exchange that utilizes the underlying technology of the Ethereum blockchain to provide users with a secure and efficient platform for buying, selling, and trading cryptocurrencies.

DIA takes a comprehensive approach to sourcing trade data from different types of exchanges, including DeFi (decentralized finance) and NFT (non-fungible token) exchanges. The process may vary depending on the type of exchange.

For centralized exchanges like Coinbase, Kraken, and Binance, DIA utilizes scrapers that directly collect the trade data from the exchange databases. This is done by using Rest APIs or WebSocket APIs to retrieve the trades. The frequency of data collection varies from 1 to 7 seconds, depending on the exchange. By retrieving the data as close to the source as possible, DIA ensures high precision and accuracy.

In contrast, for decentralized exchanges, DIA collects data directly from various blockchains by subscribing to swap events in liquidity pools. This approach allows DIA to retrieve trading data directly from the blockchain itself, enhancing the accuracy of the data. Some examples of decentralized exchange sources include Uniswap, curve.finance, and PancakeSwap.

When it comes to NFT marketplaces, DIA captures live trading data by retrieving information from the integrated marketplace's smart contracts. The retrieval period generally ranges from 20 seconds to 1 minute, ensuring real-time coverage of all NFT transactions. By focusing on the broader NFT market and avoiding unreliable bids and offer data, DIA ensures data precision. Notable NFT integrated exchange sources include Blur, X2Y2, OpenSea, and TofuNFT.

By employing this comprehensive data management strategy, DIA is able to provide highly accurate and customizable price feeds for various cryptocurrencies, NFTs, and other digital assets.

DIA employs a systematic process to compute trade data from Binance and build price feed oracles. The process varies based on the type of exchange we are referring to, whether it is DeFi or NFT.

For DeFi exchanges like Binance, there are two main steps involved. The first step is data cleaning and outlier detection. This ensures that the price estimation process is resilient against trades with prices that diverge from the market price. To achieve this, DIA applies an Interquartile Range (IR) filter, which identifies and excludes data points and sets that lie outside an acceptable range relative to the interquartile range.

The second step is the application of a price determination methodology. DIA utilizes trade-based filters to calculate a single USD price value for each asset. One example of such a filter is the Volume Weighted Average Price (VWAP), which takes into account the different volumes of trades. Another example is the Moving Average with Interquartile Range Filter (MAIR), which weights trades against volume to arrive at the final price.

For NFT exchanges, the process is different. DIA determines the floor price of an NFT collection by processing the on-chain trade data in two steps. Firstly, the data goes through cleansing filters to exclude market outliers and manipulation techniques. Then, a pricing methodology is applied to determine the final price point. One basic methodology is the Floor Price, which provides the lowest sale price of an NFT collection during a specified time window. However, DIA also offers more advanced methodologies, such as the Moving Average of Floor Price, which calculates the moving average of a collection's floor price.

It's important to note that manipulations such as wash trading and floor sweeping can impact the floor price. DIA's filtering mechanisms aim to produce market-representative prices and mitigate the effects of such manipulations.

In summary, DIA's process for building price oracles with Binance trade data involves data cleaning, outlier detection, and the application of trade-based price determination methodologies. The specific methodology used depends on whether it is a DeFi or NFT exchange.