A global user survey conducted by Binance shows that artificial intelligence (AI) altcoins have significant potential in the coming period. According to the survey, 23.89% of respondents believe that AI altcoins have the greatest potential, followed closely by meme coins at 19%. Other notable mentions include DeFi altcoins at 12.37% and Layer-1 altcoins at 12.28%. Furthermore, 16.1% of respondents said they hold meme coins, while Bitcoin (BTC) came in second at 14.44%.
2024 marks a record year for Binance and the crypto market
2024 has proven to be a watershed year for the crypto market and Binance. According to DefiLlama data, Binance has outperformed its competitors with $21.6 billion in user flows this year, surpassing the next ten largest exchanges by nearly 40%.
Binance CEO Richard Teng expressed his gratitude, stating, “2024 was an extraordinary year for the crypto market. We thank the approximately 250 million users who chose Binance.”
Bitcoin Spot ETFs and Increasing Institutional Investment
A significant development in 2024 was the introduction of spot Bitcoin ETFs. This innovation made it easier for institutional investors to access cryptocurrencies, leading to significant inflows into the market. Net inflows into spot Bitcoin ETFs even surpassed those into gold ETFs, causing Bitcoin prices to rise significantly.
During this period, Binance has also successfully attracted institutional investors. According to CryptoQuant data, the average Bitcoin holdings on exchanges increased from 0.36 BTC in 2023 to 1.65 BTC in 2024. USDT holdings increased from $196,000 to $230,000. The report highlights Binance's leadership in institutional development activities in this area.
In 2024, Binance became the first centralized exchange to surpass $100 trillion in total trading volume. According to a CCData report, this achievement reaffirmed Binance’s scale, liquidity, and user trust. Innovative platforms like Binance Launchpool have gained significant traction by allowing users to earn new altcoin rewards, with many continuing to hold these funds on the platform. 2024 has proven that Binance and the cryptocurrency market are on the verge of mainstream adoption.
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