According to @OnchainDataNerd, Binance’s peak daily volume for newly listed tokens reached $1.1B over the last month, roughly 3x other exchanges at $392M (source: @OnchainDataNerd on X, Aug 21, 2025). Per @OnchainDataNerd, this indicates Binance currently leads order flow and liquidity for new listings, concentrating price discovery where most trading occurs at launch (source: @OnchainDataNerd).