· The adoption and awareness of cryptocurrencies has increased significantly this year, with metrics ranging from the number of businesses and establishments that accept digital currencies, to survey responses that reflect the growing appeal of these assets to the general public.
· Binance has seen a massive influx of new users and increased trading activity, reflecting growing adoption and building user trust in our platform.
Madrid, June 25, 2024 - The cryptocurrency sector is experiencing a transformative period of growth and widespread integration in 2024. Digital assets, no longer limited to trading and investing, are becoming increasingly integrated into our lives everyday life, revolutionizing the way people interact with money.
Binance, the world's leading blockchain ecosystem and cryptocurrency infrastructure provider, has witnessed unprecedented levels of user engagement, reinforcing its position as a trusted platform in this dynamic landscape. This year alone, Binance has welcomed over 30 million new users, reflecting the growing trust in our platform.
The Rise of Cryptocurrencies in Everyday Transactions
The number of businesses that accept cryptocurrencies has increased by 42% in the last two years, going from 7,731 in October 2022 to 10,952 in April 2024, according to BTC Map. This trend is further supported by the proliferation of cryptocurrency ATMs, whose value in the global market has increased from $115 million in 2022 to $181 million in 2023.
The growing number of merchants accepting digital currencies as a direct payment method says a lot about the general appeal of cryptocurrencies. From small businesses to large enterprises, the adoption curve is steepening as merchants recognize the benefits of cryptocurrency payments, such as reaching new customers and reducing transaction fees.
Education and Trust: Key Drivers of Adoption
Widespread adoption of cryptocurrencies depends not only on technological advances and increasing use cases, but also on knowledge and trust. At Binance, we have made substantial progress through our educational platform, Binance Academy. We launched in 2018, and in the first quarter of this year alone, we added 928,000 new users to Academy, fostering informed discourse and driving trust in digital assets. This is a clear indicator of the desire for more education and learning within the industry.
According to a Consensys and YouGov survey, 92% of respondents around the world have heard of cryptocurrencies, and 50% know what they are. The narrative around cryptocurrencies is changing. The same survey indicates that 16% of respondents see cryptocurrencies as the "future of money", while 11% consider them an alternative to traditional financial systems. This growing confidence is also fueled by Binance and the broader industry's efforts in compliance, security and education, along with growing institutional adoption and clearer global regulatory frameworks.
Binance's unprecedented growth
The latest data from Binance underlines the growing interest in digital assets. Since the beginning of 2024, the platform has doubled the number of daily visits and significantly increased monthly user engagement. The value of customer assets on Binance has surpassed $100 billion for the first time, driven by significant inflows of crypto assets.
According to Javier García de la Torre, Director of Binance Spain and Portugal: “Cryptocurrencies are reconfiguring our world, from everyday transactions to education and institutional inflows. On average, Binance adds 150,000 new users every day, and our accelerated user growth - from reaching 100 million in almost 5 years, to growing from 100 to 200 million in 2 years and 3 months - is a testament to the acceleration of adoption of digital assets and blockchain technology.”
March 2024 marked a notable increase in spot trading volume, which grew by 121% to $1.12 trillion, the highest since May 2021. Derivatives trading volumes also soared by 89.7% , up to $2.91 trillion, reflecting the growing appetite for various trading and investment options.
"The trajectory of cryptocurrency adoption is unstoppable, marking a fundamental change in the way we perceive and interact with money and digital assets. As the sector matures, Binance remains committed to fostering a better financial system. inclusive and transparent that welcomes the next billion users to the world of cryptocurrencies," adds Javier García de la Torre.
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