Binance has once again hit another trading milestone in 2024. According to the official announcement on December 12th, average Bitcoin deposits grew from 0.36 BTC to 1.65 BTC
Additionally, in 2024, user fund deposits on Binance totaled $21.6 billion, 36% more than the sum of the next 10 cryptocurrency exchanges, or $15.9 billion.
The rise in deposits and and the overall growth in Binance’s performance comes in tandem with a global growth of crypto world and a rise in user adoption.
Binance Sees Rise In User Deposit
According to the official announcement, USDT deposits increased from $19.6k to $230k, while the average BTC deposit increased from 0.36 BTC to 1.65 BTC across exchanges.
Professional and corporate investors’ increasing interest is reflected in these larger deposits.
As evidence of its long-standing market dominance, Binance became the first cryptocurrency exchange to surpass $100 trillion in lifetime trading volumes earlier this year.
Rise in Binance’s User Volumes Comes As Global Crypto Markets Rise
The expansion of Binance coincides with a rise in the use of digital assets worldwide. The approval of Bitcoin ETFs in markets like the US, Brazil, Hong Kong, and Australia, along with significant regulatory victories and price milestones in the past, have increased institutional and retail confidence.
Additionally, Binance has undertaken multiple expansion programs, catering to a varied audience userbase.
Due to these developments, Binance has attracted millions of users, bringing its total number of users worldwide to nearly 250 million as of this writing.
According to Binance CEO Richard Teng, “2024 has been a landmark year for the crypto industry, and we are incredibly grateful to our almost 250 million users, and counting, who continue to trust Binance as their chosen platform for trading.”
Binance Hits $100 Trillion Lifetime Trading Volume
According to CCData, Binance has also reached a significant industry milestone by becoming the first centralized cryptocurrency exchange to surpass $100 trillion in lifetime trading volumes. This achievement highlights Binance’s unmatched liquidity, scale, and user confidence.
Inflows have been further stimulated by the success of Binance Launchpool, which enables users to farm new token rewards, indicating the growing interest in cutting-edge cryptocurrency opportunities. The majority of these funds, according to Binance, stay on the platform, demonstrating user trust in Binance’s products.
2024’s accomplishments mark the start of a new era for digital assets. Binance continues to set the standard for innovation, openness, and user-first initiatives as cryptocurrency becomes more widely accepted.