As the largest cryptocurrency exchange in the world, Binance holds an overwhelming advantage in user fund inflows. As of now, Binance's inflows have reached $21.6 billion, which is 36% higher than the total of the bottom 10 cryptocurrency exchanges (totaling $15.9 billion). Data sourced from DefiLlama.
This year, Binance's inflows have benefited from global optimism towards digital assets, driven by multiple factors: significant regulatory victories, increasing adoption rates, and historic price milestones. Additionally, Binance's global user base has expanded to 244 million people, with more users depositing funds into Binance to participate in what could be the beginning of a "golden age" for cryptocurrencies.
Binance's Launchpool project has performed strongly, attracting significant funds to the platform and reflecting users' increasing interest in new token projects. Data shows that most funds tend to remain on the Binance platform, further solidifying its position in the industry.
The cryptocurrency industry reached a historic milestone in 2024. The launch of Bitcoin ETFs has become a significant milestone for the crypto industry. These ETFs have been approved in major markets, including the United States, Brazil, Hong Kong, and Australia, signifying a substantial increase in mainstream acceptance of digital assets.
In just one year, net inflows into Bitcoin ETFs have surpassed those of gold ETFs, highlighting not only the growing importance of cryptocurrencies in the financial sector but also indicating a deepening integration with traditional institutions and systems.
The launch of Bitcoin ETFs has provided institutional investors with convenient exposure and risk hedging tools, playing a crucial role in the recent market rebound. As more funds flow into these ETFs, Bitcoin is accelerating its integration into mainstream financial markets.
"The year 2024 is a milestone year for the crypto industry. We sincerely thank the 244 million users globally and the growing number of supporters who continue to choose Binance as their trading platform. Their steadfast support and trust inspire us to continually innovate and provide the highest quality experience in the digital asset space." Richard Teng, CEO of Binance
According to statistics from digital asset data provider CCData, Binance recently achieved a historic milestone, becoming the first centralized crypto exchange to surpass a cumulative trading volume of $100 trillion.
A report from on-chain data analytics firm CryptoQuant indicates that this year marks a significant shift in the crypto industry, with a notable increase in institutional investor participation. Data shows: the average Bitcoin deposits across all exchanges in 2024 rose from 0.36 BTC in 2023 to 1.65 BTC; average USDT deposits surged from $19,600 to $230,000. These figures reflect a significant growth in interest from institutional and corporate investors, contrasting sharply with previous retail trading behaviors.
CryptoQuant noted: "Among major exchanges, Binance leads this institutional growth, reporting the largest increase in average Bitcoin deposits."