#Binance , the world’s largest cryptocurrency exchange, has reported over $24 billion in user deposit inflows in 2024, outpacing 10 other major exchanges combined, according to DefiLlama data.
Binance attributed its growth to increased digital asset adoption driven by regulatory successes, record-breaking crypto prices, and the launch of spot Bitcoin ETFs in key markets. The exchange claimed nearly 250 million global users, citing these developments as critical to its expansion.
DefiLlama’s data ranks Bybit and OKX as the next highest in inflows with $8.2 billion and $5.3 billion, respectively. Meanwhile, BitMEX, Robinhood, and HTX recorded $3.45 billion, $3.17 billion, and $2.12 billion in inflows, while Bitstamp, Bitfinex, and Crypto.com experienced net outflows of $2.75 billion, $1.77 billion, and $358.1 million, respectively
Binance CEO #RichardTeng said earlier this week that it’s premature to discuss whether the world’s largest cryptocurrency exchange might re-establish operations in the United States following the election of a pro-crypto president.
Speaking to Bloomberg TV, Teng clarified that Binance’s current focus remains on its global expansion, targeting institutions, sovereign wealth funds, and high-net-worth individuals expected to enter the digital asset space.
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