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- Binance has recorded $21.6 billion in person fund deposits in 2024, far outpacing the following ten exchanges mixed
- Bitcoin ETFs authorized in key markets have pushed institutional adoption, contributing to record-breaking inflows and person development for Binance
- Binance has surpassed $100 trillion in lifetime buying and selling volumes, cementing its place because the main cryptocurrency change
Binance has recorded $21.6 billion in person fund inflows this yr and has boasted a world person base nearing 250 million. Binance famous that Bitcoin ETFs and rising institutional curiosity have been key drivers of this development, solidifying Binances position because the world’s greatest crypto change. The corporate has continued this spectacular development within the wake of a concerted effort to change into extra compliant in varied jurisdictions.
File-Breaking Progress
Binance’s $21.6 billion in person fund deposits in 2024 represents a virtually 40% lead over the following ten exchanges mixed, according to DefiLlama. This development aligns with an industry-wide surge in optimism within the crypto sector as an entire, bolstered by main regulatory wins and the introduction of Bitcoin ETFs throughout the US, Brazil, Hong Kong, and Australia.
Binance CEO Richard Teng expanded on this in a press launch:
2024 has been a landmark yr for the crypto {industry}, and we’re extremely grateful to our virtually 250 million customers who proceed to belief Binance as their chosen platform for buying and selling.
The Bitcoin ETF Impact
One of many yr’s most transformative occasions has been the approval of Bitcoin ETFs, which have simplified institutional entry to cryptocurrency investments. Internet inflows into Bitcoin ETFs have outpaced gold ETFs inside only a yr, marking a paradigm shift in asset allocation methods.
Consequently, institutional participation in crypto has soared, with Binance main the best way. A report from CryptoQuant reveals that the typical Bitcoin deposit on exchanges grew from 0.36 BTC in 2023 to 1.65 BTC in 2024. USDT deposits noticed the same spike, reflecting the rising confidence {of professional} and company traders. “Binance has led the {industry} in institutional development,” famous CryptoQuant, including that the change recorded the biggest improve in common Bitcoin deposits amongst main platforms.
