Binance confirms itself as the leading crypto-exchange in the 2024 market, recording 40% more inflows compared to the sum of the next 10 exchanges. Not only that, the platform has totaled 21.6 billion dollars in deposits, against the 15.9 billion overall of the other reference exchanges, with a difference of +36%.
Binance is the most performing crypto-exchange of 2024: the achievements of the year
Binance, the largest crypto-exchange in the world, confirms its position as the market leader with the best performance of 2024.
First and foremost, Binance recorded fund inflows from users that are 40% higher than the 10 exchanges that rank behind it. Not only that, the platform totaled 21.6 billion dollars in deposits, compared to the 15.9 billion overall of the other reference exchanges, with a difference of +36%.
Without making further comparisons, Biannce has also seen its user base grow, reaching a total of 244 million people this year.
Another success, then, is its Binance Launchpool program which seems to have stimulated strong interest in the new tokens, consolidating the funds on the platform.
On X, Binance then congratulated itself for also reaching 25 million followers on all its social platforms.
Binance: the crypto-exchange market leader of 2024 along with the growth of the crypto sector
The new milestones of Binance come in a year in which the crypto sector has experienced a true turning point.
In this regard, Richard Teng, CEO of Binance, commented as follows:
“The year 2024 has been an extraordinary year for the cryptocurrency sector, and we are incredibly grateful to our 244 million users, a number that continues to grow, who continue to choose Binance as the trusted platform. Their support and trust drive us to innovate and offer the best possible experience in the world of digital assets,”
In fact, among other things, 2024 saw primarily Bitcoin ETFs that received approval in key markets such as the United States, Brazil, Hong Kong, and Australia.
In addition to the growing acceptance of digital assets, there has been a significant increase in inflows for these financial instruments, to the point that BTC has become increasingly integrated into the traditional market.
Not only that, according to the data from CryptoQuant, the average Bitcoin deposits on all platforms have increased from 0.36 BTC in 2023 to 1.65 BTC in 2024, while those of USDT have grown from 19,600 to 230,000 dollars.
These values reflect the growing interest of professional and corporate investors, distinguishing institutional activity from retail trading.
Regarding Binance, CryptoQuant commented as follows:
“Binance has led the sector in this institutional growth, recording the largest increase in average Bitcoin deposits among the major exchanges. [..] Binance saw its average daily Bitcoin deposit increase by 2.77 BTC, significantly surpassing Kraken and Coinbase, which grew by 0.56 BTC and 0.41 BTC respectively.”
The record numbers on the day after the USA elections
Last November, Binance recorded a new record as well, exactly after the USA 2024 presidential elections, won by Trump.
In fact, in a single day, exactly on November 6, 2024, the inflows on the platform reached over 130 billion dollars in crypto. On that day, the platform also recorded over 13 million visits on the app.
Not only that, the crypto-exchange recorded its all-time high of Exchange Reserve Percentage, reaching 25%. This is the metric that shows the percentage of reserves held on Binance compared to all the reserves of the crypto-exchange.
