Binance, the largest cryptocurrency exchange in the world by trading volume and user count, set record figures in November, attracting over $5 billion.
November Records for Binance
According to data from DeFiLlama, Binance achieved two consecutive billion-dollar inflow weeks, bringing the total monthly inflow for November to over $5 billion. This is five times higher than the second largest platform in terms of trading volume. This achievement strengthens Binance's position as the preferred trading platform amid growing demand for digital assets.
User Base Growth
Following the U.S. Presidential election, Binance registered more than 13 million app visitors in a single day on November 6. This led to user asset holdings on Binance reaching $130 billion, the most since they began disclosing reserve data two years ago. User trust in Binance is bolstered by the reserve percentage reaching 25% compared to 21% in November 2023.
Global Trends in Cryptocurrency Market
The recent boost in user activity also reflects larger market trends: since November 5, the prices of Bitcoin (BTC) and Ether (ETH) have increased by over 20% and 30% respectively. This highlights the significance of digital assets as an essential element of the modern financial landscape.
Despite the continuously evolving cryptocurrency sector, Binance remains committed to providing its customers with a safe, transparent, and comprehensive ecosystem.
