As the world's largest cryptocurrency exchange, Binance holds an overwhelming advantage in user fund inflows. So far, Binance's fund inflow has reached $21.6 billion, which is 36% higher than the total of the bottom 10 cryptocurrency exchanges (which is $15.9 billion). Data sourced from DefiLlama.
This year, Binance's inflow of funds has benefited from global optimism towards digital assets, driven by multiple factors: significant regulatory victories, increasing adoption rates, and historic price milestones. Additionally, Binance's global user base has expanded to 244 million, with more users depositing funds into Binance to participate in what could be the dawn of a "golden age" for cryptocurrencies.
Binance's Launchpool project has performed strongly, attracting significant funds to the platform, reflecting users' increasing interest in new token projects. Data shows that most funds tend to remain on the Binance platform, further consolidating its industry position.
The cryptocurrency industry achieved a historic milestone in 2024. The launch of Bitcoin ETFs has become an important milestone for the crypto industry. These ETFs have been approved in major markets including the United States, Brazil, Hong Kong, and Australia, marking a significant increase in the mainstream acceptance of digital assets.
In just one year, net fund inflows into Bitcoin ETFs have surpassed those of gold ETFs, highlighting not only the growing importance of cryptocurrencies in the financial sector but also indicating a deepening integration with traditional institutions and systems.
The launch of Bitcoin ETFs provides institutional investors with convenient exposure and risk hedging tools, playing a crucial role in the recent market rebound. As more funds flow into these ETFs, Bitcoin is accelerating its integration into mainstream financial markets.
"The year 2024 is a milestone year for the crypto industry. We sincerely thank the 244 million users worldwide and the growing number of supporters who continue to choose Binance as their trading platform. Their steadfast support and trust inspire us to continuously innovate and provide the highest quality experience in the digital asset space." Richard Teng, CEO of Binance
According to statistics from digital asset data provider CCData, Binance has recently achieved a historic milestone, becoming the first centralized crypto exchange to surpass a cumulative trading volume of $100 trillion.
A report from on-chain data analytics firm CryptoQuant indicates that this year marks a significant shift in the crypto industry, with a notable increase in institutional investor participation. Data shows that the average Bitcoin deposit across all exchanges rose from 0.36 BTC in 2023 to 1.65 BTC in 2024; average USDT deposits surged from $19,600 to $230,000. This data reflects a significant growth in interest from institutional and corporate investors, contrasting sharply with previous retail trading behavior.
CryptoQuant stated: "Among major exchanges, Binance leads in this institutional growth, reporting the largest increase in average Bitcoin deposits."