In 2024, Binance maintained its position as the largest cryptocurrency exchange globally, with significant growth in its user base and market activities. The platform surpassed 240 million registered users by December, following a surge in crypto adoption. A major portion of its traffic and trading volumes came from Asia and Europe, where Binance commands substantial market shares.
Binance handled 25.5% of all centralized exchange trading volumes, maintaining its dominance over competitors like Coinbase. Despite challenges such as regulatory scrutiny and competition, the exchange managed to thrive by offering diverse features like staking, innovative trading tools, and a user-friendly interface. It also emphasized compliance, securing licenses in several regions while adapting to new regulations, especially in the EU.
Demographically, most Binance users are aged 18-34, with a strong presence of male traders. Binance's appeal to younger crypto enthusiasts is linked to its efforts in community engagement and innovative product offerings like copy trading and enhanced Web3 wallet features.
For more details about Binance’s 2024 growth and projections, you can explore further resources like Cryptopolitan and Binance Square.