Binance Registers Over 30M New Users In 2024, Customer Assets Surpass $100B Milestone
In Brief
Crypto exchange Binance registered over 30 million new users this year, while the average daily visits to the platform have doubled.
Cryptocurrency exchange Binance reported that over 30 million new users have registered for trading on its platform so far this year. Since the start of 2024, the average daily visits to Binance have doubled, indicating a significant increase in platform activity.
Additionally, Binance has seen a significant increase in cryptocurrency assets flowing into the platform, surpassing a total of $100 billion in customer assets for the first time. This influx has led to a rise in spot trading volume, which surged by 121% to $1.12 trillion as of March, marking the highest spot volumes since May 2021, according to CCData. Derivatives trading volumes also climbed by 89.7% to $2.91 trillion, reaching their highest levels since May 2021.
In a recent blog post discussing the state of cryptocurrency adoption in 2024, the exchange highlighted several significant developments. Among them is the notable increase in the number of vendors accepting digital currencies as direct payment methods. According to community-driven tracker BTC Map, the total number of vendors accepting cryptocurrencies has risen from 7,731 in October 2022 to 10,952 in April 2024, indicating a 42% increase in less than two years. This growth highlights a significant trend towards greater integration of cryptocurrencies.
In addition, Binance highlighted the proliferation of cryptocurrency ATMs as another notable development. The global market for these devices expanded from $115 million in 2022 to $181 million in 2023, representing a 64% increase within a single year.
Furthermore, the exchange highlighted the substantial adoption of stablecoins, noting that these assets have now surpassed all other types of cryptocurrencies in terms of usage. The volume of fiat purchases of stablecoins has been steadily rising over the past year, especially in countries experiencing significant declines in their national currencies and those with strict capital flow restrictions.
Binance Surpasses 200M Registered Users In June, Sets Sights On Further Growth
Binance is widely acknowledged as one of the major cryptocurrency exchanges. The platform enables transactions involving over 350 cryptocurrencies and virtual tokens, providing users with competitive transaction fees and robust liquidity.
The exchange has achieved over 200 million registered users this month, nearly seven years after its initial platform launch. According to Richard Teng, CEO of Binance, reaching this milestone emphasizes the rapid growth of cryptocurrency adoption. He also pointed out the exchange’s ambition to eventually attract a billion users.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
