The 2024 bull market resulted in historic outcomes for Binance, with centralized exchanges becoming key to market growth.
Rise in Users and Trading Volumes
In 2024, Binance reached a milestone of 250 million registered users. Centralized exchanges proved crucial for liquidity, despite the rise of DEXs. Binance's average daily trading volumes grew by 27%, and margin trading volumes rose by 390%. By year's end, there were over 388 listed assets and 412 coins available on Binance Earn.
Acceleration of Institutional Adoption
2024 marked a tidal shift with institutional influence. Binance's VIP users increased by 116%, and institutional registrations grew by 97%. Binance strengthened its regulatory compliance efforts, expanding its team to 650 experts, securing clearance in 21 jurisdictions, and enhancing security to prevent losses up to $4.2B affecting 2.8M users.
Expansion of Binance Brand in Fintech
Binance Pay expanded its user base by 226%. The service provides over 1,000 payment methods in 125 fiat currencies, contributing to growth. Binance Earn increased its locked value by 144%, bridging the gap between traditional and decentralized finance.
In 2024, Binance achieved remarkable results, further establishing itself as a leader in centralized crypto exchanges. The exchange continues to push boundaries with new projects and initiatives, supporting blockchain's growth and adoption.
