2024

Million

Billion

Trillion

Leading crypto exchange Binance has accumulated more than $24 billion in inflows from user deposits in 2024 while also surpassing $100 trillion in lifetime trading volume.
This growth “aligns with a surge in global adoption of digital assets,” Binance said in a Dec. 11 blog <a href="https://www.binance.com/en/blog/ecosystem/binance-fund-inflows-for-2024-are-almost-40-higher-than-the-next-10-exchanges-combined-8401642176518373033?hl=en" rel="noopener noreferrer nofollow">post</a>. Recent developments including a series of regulatory victories, historic price milestones, and the launch of spot Bitcoin ETFs (exchange-traded funds) in the US, Hong King and other large markets drove “millions of users to Binance,” the exchange added.
<img decoding="async" src="https://www.retailnews.asia/wp-content/uploads/2021/09/Binance.jpeg" alt="binance">
<h2 id="span-style-font-weight-400-binance-inflows-almost-3-times-greater-than-its-next-biggest-competitor-span">Binance Inflows Almost 3 Times Greater Than Its Next Biggest Competitor</h2>
Binance’s inflows are almost 3 times greater than that of Bybit, which <a href="https://defillama.com/cexs" rel="noopener noreferrer nofollow">DefiLlama</a> data shows is the second biggest <a href="https://insidebitcoins.com/buy-cryptocurrency/best-crypto-exchanges" rel="noopener noreferrer nofollow">exchange</a> in terms of inflows after $8.2 billion made its way onto the platform.&nbsp;
In third place is OKX, with its inflows standing at around $5.3 billion. DefiLlama’s list does not include Coinbase and Gemini because of their inadequate “wallet transparency,” according to the DeFi data platform.
In fourth and fifth place are BitMEX and Robinhood, respectively. BitMEX’s proof of reserves show the exchange’s net inflows stand at $3.165 billion. Robinhood trails closely on BitMEX’s heels with its $3.165 billion inflows, according to DefiLlama. Bitstamp comes in at sixth place with its net inflows totaling $2.12 billion.
<h2 id="span-style-font-weight-400-binance-surpasses-100-trillion-in-lifetime-trading-volume-span">Binance Surpasses $100 Trillion In Lifetime Trading Volume</h2>
Along with the $24 billion inflows this year, Binance also noted a major lifetime trading volume milestone. Citing data from <a href="https://ccdata.io/research/chart-of-the-week?f4272b44_page=2" rel="noopener noreferrer nofollow">CCData</a>, the exchange said that it has become the first centralized crypto exchange to surpass $100 trillion in trading volume.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Binance Stablecoin Inflow Hits All-Time High of $10.2 Billion
 “This surge shows the increasing reliance on Binance for a range of trading activities, including buying Bitcoin and altcoins, and participating in futures markets.” – By <a href="https://twitter.com/JA_Maartun?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@JA_Maartun</a>
 Link 👇<a href="https://t.co/F0hq9kf1Xa" rel="noopener noreferrer nofollow">https://t.co/F0hq9kf1Xa</a> <a href="https://t.co/lSwRR4blzH" rel="noopener noreferrer nofollow">pic.twitter.com/lSwRR4blzH</a>
 — CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1859972745393840171?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 22, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
That’s after Binance and other crypto exchanges attracted substantially more institutional capital in 2024 as well. The average <a href="https://insidebitcoins.com/news/bitwise-predicts-bitcoin-will-top-200k-in-2025-ethereum-and-solana-to-set-new-all-time-highs" rel="noopener noreferrer nofollow">Bitcoin</a> deposit size on these platforms has risen from 0.36 BTC to 1.65 BTC this year. Deposits for the largest stablecoin by market cap, Tether (USDT), also soared from $19,600 to $230,000, according to <a href="https://cryptoquant.com/community/dashboard/6740ff9f114d3c55e6906c77" rel="noopener noreferrer nofollow">CryptoQuant</a>.&nbsp;
<h3 id="span-style-font-weight-400-related-articles-span">Related Articles:</h3>
<ul>
 <li style="font-weight: 400"><a href="https://insidebitcoins.com/news/why-is-solana-climbing-about-to-top-xrp-again-new-bull-market-wallet-best-wallet-zooms-past-3-5m-in-presale" rel="noopener noreferrer nofollow">Why Is Solana Climbing? About To Top XRP Again?</a></li>
 <li style="font-weight: 400"><a href="https://insidebitcoins.com/news/crypto-all-stars-presale-closes-on-14-million-less-than-8-days-left" rel="noopener noreferrer nofollow">Crypto All-Stars Presale Closes On $14 Million</a></li>
 <li style="font-weight: 400"><a href="https://insidebitcoins.com/news/turbo-price-pumps-to-new-ath-following-coinbase-listing-will-wall-street-pepe-be-next" rel="noopener noreferrer nofollow">Turbo Price Pumps to New ATH Following Coinbase Listing</a></li>
</ul>

Binance Records $24 Billion Inflows In 2024 As The Exchange Surpasses $100 Trillion In Lifetime Trading Volume

Table of Contents

Inside Bitcoins

Other articles published on Dec 13, 2024

HyperLiquid HYPE Token Launch: Everything You Need to Know

Whales accumulate DOGE and this AI coin before price boom begins, ADA eyes $6

Rumours About Gate.io Security Breach Are Not True

BitToPay Expands Globally: A New Era in Cryptocurrency Exchange

Societe Generale Revolutionizes the Repo Market with Bank of France Collaboration

Riot Increases BTC Reserves to 16,728 Following Major $525M Investment

Join our free newsletter for daily crypto updates!