In 2024, Binance continued to make remarkable achievements in the cryptocurrency market despite challenges. Notable developments include:
1. Market growth and total value: Cryptocurrencies saw their total market value increase to $2.27 trillion in the first half of the year, up 37.3%. This growth has boosted the role of cryptocurrencies in financial markets【21】【22】.
2. New innovations and technologies:
Enhancing the BNB Chain infrastructure through projects like opBNB and Greenfield.
Launching the Runes protocol on the Bitcoin network, expanding the network's capabilities to include additional applications【22】【23】.
3. Decentralized Finance (DeFi): DeFi projects have seen significant growth, with the total value closed rising to $94.1 billion in the first half of the year, reflecting a 72.8% increase compared to the beginning of the year【22】.
4. Non-fungible tokens (NFTs) market: The market continued to evolve with trading volume increasing by 14.6% in March 2024, and new platforms such as Bitcoin NFTs emerged that outperformed traditional platforms such as Ethereum and Solana in trading volumes【23】.
5. ETFs Approval: The first Bitcoin exchange-traded funds have been approved in the United States, attracting $12 billion in new investment inflows since the beginning of the year, cementing Bitcoin’s position as a major investment asset【21】.
6. SocialFi continues to evolve: Applications that combine social media and finance have seen significant growth, with the launch of protocols like Lens Network and the success of applications like friend.tech【22】.
Binance has been at the forefront of these developments, reflecting its commitment to innovation and expanding the use of cryptocurrencies globally. For more details on achievements and trends, you can visit Binance’s official reports on its website【22】【23】.
