The exchange told CryptoSlate that Binance Square has rapidly garnered over 10 million monthly active users, including the exchange CEO. This diverse user base encompasses 170 media partners, 11,500 key opinion leaders, and 90 projects, showcasing impressive growth in just one year.

Since its inception, it has fostered over 30,000 hashtags related to crypto and Web3 topics.

Meanwhile, Binance’s recent foray into social media platforms is not entirely surprising, considering the exchange was an equity investor in billionaire tech entrepreneur Elon Musk’s acquisition of the microblogging platform Twitter.

Besides that, CZ has consistently touted the potential of blockchain technology in enhancing social platforms. He said the technology can help address spam, fraud, and authentication issues.

Recently, there has been an increased demand for blockchain-based social media platforms following the challenges facing traditional media firms. This has resulted in the growth of notable decentralized social protocols like Friend.Tech, Stars Arena, and a host of others.#Square