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Share link:In this post: Binance reached a milestone of 240M registered users, while carrying 25.5% of all CEX trading volumes. The Binance exchange derives the bulk of its international traffic from EU area and Asian countries. The Binance ecosystem remains slower compared to Ethereum and Solana, but the brand gets a boost from its centralized market.
Binance broke above 240M registered users after the latest record crypto boom. Toward the end of 2024, Binance remained the top exchange both in terms of visits and liquidity.
Binance carried the boom of 2024, expanding both its volumes and user base. Richard Teng, CEO of Binance, announced the milestone, underscoring the size of the crypto market.
Binance remains a full KYC exchange, though in the past it has been accused of hosting bot accounts or spoofed identities. However, the recent user growth is corroborated by online trends, where Binance’s app and website also grow in popularity.
Binance also showed the market still needed a central settlement hub, as it carried a big part of the traffic during Bitcoin’s run up to $93,000. Binance was also instrumental to several meme token rallies , including PEPE, NEIRO, ACT, and PNUT. Interest in Binance also rose for its recent policy to add widely distributed meme assets with no signs of insider holdings.
In the short term, Binance is a way for tokens to go through a boom. As of November 15, some of the most actively trading pairs involved DOGE and PEPE, with high activity for ACT and PNUT as well.
Binance is the market share leader with inflows from Asia and Europe
Binance still carries more than 25.5% of all exchange volumes, based on data from Messari. The exchange handles more volumes than other top competitors, including Coinbase and Crypto.com. The exchange carries one of the biggest Bitcoin (BTC) wallets, holding more than $36B in deposits. The exchange carries more than $102B in its balances, spread across leading L1 and L2 chains. The exchange is seen as more transparent due to regular on-chain reports of current reseres.
See also Binance goes all in on the bull run, introducing USUAL and more offerings For ACT, PNUT, NEIRO
Binance is a worldwide market, with a special division for US traders. The exchange has moved its registration to the Kayman Islands for a global presence, wary of previous problems with regulations.
Binance also derives a big part of its volumes from Asia and Europe, based on site visit data. BinanceUS works as a separate entity, unrelated to the worldwide exchange and facing some limitations for US-based traders. Close to 35% of Binance web traffic comes from Asian countries, with 42.8% from Europe, where the exchange sees no limitations in the SEPA area.
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