Is this all because of Binance's extremely low transaction fees? so a lot of people trade on the binance exchange.
In my opinion, the transaction fees in Binance is just like the average exchange, nothing very special. What makes people be excited about trading in Binance is its reputation as the number 1 crypto exchange. Binance has a good reputation and provides various crypto coins, these are the reasons people come to Binance. I also trade in Binance because of its reputation.