PANews, December 4 - According to DefiLlama's ranking, so far this year, the user fund inflow of Binance, the world's largest digital asset exchange by registered users and trading volume, is nearly 40% higher than the total inflow of the next 10 cryptocurrency exchanges. According to data from this platform, as of 2024, Binance's fund inflow is $21.6 billion, while the inflow of the next 10 exchanges is $15.9 billion (exceeding by 36%).
This year, global optimism towards digital assets has been growing, supported by significant regulatory progress, increasing adoption rates, and prices reaching historic milestones. As more users transfer funds to the Binance exchange, participating in what could open the cryptocurrency golden age, Binance's global user base has grown to 244 million. Another strong driver of fund inflow may be the success of the Binance Launchpool program this year, reflecting a growing interest in new tokens among users. Binance has observed that these funds tend to stay on the platform. In 2024, the crypto industry reached historic milestones. Bitcoin ETFs have been approved in major markets such as the United States, Brazil, Hong Kong, and Australia, marking a broader acceptance of digital assets. In just one year, the net inflow of BTC ETFs has surpassed that of gold ETFs, demonstrating the increasing role of cryptocurrencies in finance and their deeper integration with more traditional institutions and systems. The launch of Bitcoin ETF options has made it easier for institutional investors to gain exposure and hedge risks, significantly contributing to the recent surge. With a large inflow of funds into these ETFs, Bitcoin is expected to further integrate into mainstream financial markets. Binance CEO Richard Teng stated, '2024 will be a milestone year for the cryptocurrency industry, and we are very grateful for our 244 million users, who continue to trust Binance as their chosen trading platform. Their unwavering support and confidence drive us to innovate and provide the best experience in the world of digital assets.'
According to data from digital asset data provider CCData, another recently recorded milestone further highlights Binance's leadership position in the cryptocurrency market, as it is the first centralized cryptocurrency exchange to surpass a trading volume of $100 trillion in its lifecycle. On-chain and market data analysis provider CryptoQuant emphasized that this year 'marks a significant shift in the cryptocurrency industry, with exchanges reporting a sharp increase in average deposits of Bitcoin and USDT, indicating higher institutional participation. The average Bitcoin deposit across all exchanges has risen from 0.36 BTC in 2023 to 1.65 BTC, while USDT deposits have surged from $19,600 to $230,000. These larger deposits reflect the growing interest from professional and corporate investors, distinguishing institutional activity from retail trading.' Their report states, 'Binance has led the industry in institutional growth, with the largest increase in average Bitcoin deposits among major exchanges.'
