In 2024, Binance achieved a record deposit volume driven by increased interest in Bitcoin and Tether from professional and corporate investors.
Growth in Binance Deposits
Binance CEO Richard Teng announced that user fund deposits reached $21.6 billion in 2024. This is almost 40% higher than the combined inflows of ten other major exchanges, including OKX, Bitfinex, and Robinhood.
Crypto Deposit Trends
According to DeFi Llama and CryptoQuant, the average Bitcoin deposit on exchanges rose by 358% in 2024, while USDT deposits surged 1,073%. Binance led the growth in average Bitcoin deposits, solidifying its position as the top exchange.
Binance's Strategic Plans
Despite the achievements, Richard Teng clarified that Binance has no immediate plans to return to the U.S. market. The company focuses on global strategy and is not considering a return, even with a new crypto-friendly administration.
In 2024, Binance continues to lead in crypto deposits, but the company focuses on global expansion, excluding a return to the U.S. market.
