Binance consolidated its leadership in 2024 by reaching an inflow of 21.6 billion USD, surpassing the sum of the flows received by the 10 largest competing exchanges by 40%.
This data, presented by the analytics platform DefiLlama, reinforces Binance’s dominant position in the global digital asset market. Thus, the results reflect a scenario of optimism around cryptocurrencies, driven by regulatory advances and new records in the prices of assets such as Bitcoin.
Thus, Binance also saw its global user base reach 244 million, a major milestone that contributed to the increase in deposits on the platform.
Furthermore, initiatives such as Binance Launchpool have played a crucial role, according to the exchange itself.
Binance, Bitcoin ETFs, and Increased Regulatory Acceptance
Another factor that supported Binance’s inflows in 2024 was the approval of Bitcoin ETFs in key markets such as the United States, Brazil, Hong Kong, and Australia.
These financial products have facilitated access for institutional investors, increasing exposure to the crypto market. As a result, net inflows into Bitcoin ETFs have surpassed those into gold ETFs, cementing the growing role of crypto assets in the financial sector.
“The support of our 244 million users is essential for us to continue innovating and providing the best possible experience,” said Richard Teng, CEO of Binance.
Thus, data from CryptoQuant shows that the year marked a significant increase in average Bitcoin and USDT deposits on exchanges. On Binance, the average value of Bitcoin deposits rose from 0.36 BTC in 2023 to 1.65 BTC in 2024.
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