CoinMeta data: According to Kaiko, after Binance invested $100 million in Circle and renewed its commercial partnership with USDC for another five years, the daily trading volume of USDC on Binance has reached several billion dollars, while other major exchanges have volumes below $500 million. This indicates that the trading liquidity of USDC is clearly concentrating on Binance. On September 22nd, Binance and Circle announced a new five-year cooperation agreement. At the same time, they invested $100 million in private placement to purchase Circle A class ordinary shares and plan to focus on expanding the trading and usage scenarios of USDC in emerging markets.