Crash

2024

Bitcoin

Billion

It shows that Binance inflows have hit $24B in 2024, as per the data from&nbsp;<a href="https://cointelegraph.com/news/binance-inflows-user-deposits-24-billion-in-2024" target="_blank" rel="noopener nofollow">DefiLlama</a>. The daily trading volume stood at $12.55 billion, placing Binance above its competitors as the largest CEX in the world with a user base of 249 million. This growth has mainly been propelled by institutional investors as the market of digital assets continues to be adopted across the globe. 
<a href="https://www.qubetics.com/?utm_source=TBJ&amp;utm_medium=Binance+Inflows+Crash+Competitor%E2%80%99s+Party+with+Record+%2424+Billion+Target" rel="nofollow noopener" target="_blank"><img loading="lazy" decoding="async" class="wp-image-67567 size-full" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/11/Qubetics-is-728x90-1-3.jpg" alt="Binance inflows" width="728" height="90" title="Binance Inflows Crash Competitor’s Party with Record $24 Billion Target 44" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/11/Qubetics-is-728x90-1-3.jpg 728w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/11/Qubetics-is-728x90-1-3-300x37.jpg 300w" sizes="(max-width: 728px) 100vw, 728px"></a> 
Thus, the growth of Binance Inflows shows Binance’s attractiveness in utilizing regulatory achievements, new markets, and the growing interest in crypto-assets. For a better understanding, here are essential numbers and factors strengthening Binance in 2024: 
<h2 style="font-weight: 400;" id="strong-record-binance-inflows-overtakes-competitors-strong">Record Binance Inflows Overtakes Competitors</h2> 
As seen in the conceptual value of its composite geographical index, Binance has recorded net inflows of over $24.2 billion for the year 2024, which is even higher than other ten large Crypto exchanges combos. This statistic, obtained from the blockchain analytics platform Defillama, shows that Binance is becoming more attractive to both small and large investors. 
However, the second and third-ranked exchange platforms, Bybit and OKX, claimed to have attracted $8.2 billion and $5.3 billion, consecutively. Other platforms, such as BitMEX, received $3.45 billion, and Robinhood received $3.16 billion in inflows, as per the report from DefiLlama. 
<figure id="attachment_76196" aria-describedby="caption-attachment-76196" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="wp-image-76196 size-full" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/770FCC5D-5913-4D2B-9A4D-5E00EAD100A4.webp" alt="Binance inflows" width="1792" height="1024" title="Binance Inflows Crash Competitor’s Party with Record $24 Billion Target 45" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/770FCC5D-5913-4D2B-9A4D-5E00EAD100A4.webp 1792w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/770FCC5D-5913-4D2B-9A4D-5E00EAD100A4-300x171.webp 300w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/770FCC5D-5913-4D2B-9A4D-5E00EAD100A4-1024x585.webp 1024w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/770FCC5D-5913-4D2B-9A4D-5E00EAD100A4-768x439.webp 768w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/770FCC5D-5913-4D2B-9A4D-5E00EAD100A4-1536x878.webp 1536w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/770FCC5D-5913-4D2B-9A4D-5E00EAD100A4-860x491.webp 860w" sizes="(max-width: 1792px) 100vw, 1792px">
 <figcaption id="caption-attachment-76196" class="wp-caption-text">
 Binance inflows
 </figcaption>
</figure> 
Another clear indication of the rising interest in Binance by institutional investors may be inferred from the rise in the average deposit size. CryptoQuant published a report on December 3 that showed that the average deposited amount on Binance increased from 0.036 to 1.65 BTC in 2024. In a similar manner, the average Tethers in USDs utilised increased from 19,600 to 230000 this year. 
“These figures demonstrate that institutions are increasingly using Binance’s platform as the crypto market evolves and is given legal approval with respect to its operations,” the CryptoQuant report also pointed out. 
<h2 style="font-weight: 400;" id="strong-regulatory-and-market-milestones-drive-adoption-strong">Regulatory and Market Milestones Drive Adoption&nbsp;</h2> 
The growth of Binance inflows in 2024 may be largely associated with the distinctive market and regulation changes. The company has enjoyed an upswing of digital asset adoption, especially after the approval of spot Bitcoin exchange-traded funds, ETFs in main markets such as the U.S. and Hong Kong. 
A Dec. 12 blog post from Binance highlighted these achievements: “These developments have brought many millions of users to Binance, expanding its international audience to nearly 250 million people.” 
<figure id="attachment_76198" aria-describedby="caption-attachment-76198" style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" class="wp-image-76198 size-full" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/1B9BEB50-7F96-4FBC-AEFA-56F1F8C0D7B6.webp" alt="Binance inflows" width="1792" height="1024" title="Binance Inflows Crash Competitor’s Party with Record $24 Billion Target 46" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/1B9BEB50-7F96-4FBC-AEFA-56F1F8C0D7B6.webp 1792w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/1B9BEB50-7F96-4FBC-AEFA-56F1F8C0D7B6-300x171.webp 300w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/1B9BEB50-7F96-4FBC-AEFA-56F1F8C0D7B6-1024x585.webp 1024w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/1B9BEB50-7F96-4FBC-AEFA-56F1F8C0D7B6-768x439.webp 768w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/1B9BEB50-7F96-4FBC-AEFA-56F1F8C0D7B6-1536x878.webp 1536w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/1B9BEB50-7F96-4FBC-AEFA-56F1F8C0D7B6-860x491.webp 860w" sizes="(max-width: 1792px) 100vw, 1792px">
 <figcaption id="caption-attachment-76198" class="wp-caption-text">
 Binance inflows
 </figcaption>
</figure> 
Also, Binance inflows has sustained the largest trading volume among all the crypto- exchanges in this year as well. CCData indicates that Binance was the first CEX to achieve the $100 trillion mark in trading volume in its lifetime, opting its rivals. OKX, which ranked second on the list, announced that its lifetime trading volume reached $25 trillion. 
However, contrary to the industry predictions for the growth of DEXs, CEXs remain dominant in the market. According to CoinGecko, the 24-hour trading volume stood at $276 billion for 218 CEXs, while DEXs clocked $28.5 billion. 
<h2 style="font-weight: 400;" id="strong-challenges-remain-for-other-crypto-exchanges-strong">Challenges Remain for Other Crypto Exchanges</h2> 
While Binance inflows set records for its inflows more than several automatically trading other exchanges have outflows. According to DefiLlama data, Bitstamp, Bitfinex and Crypto.com suffered Net Outflows of $2.75 billion, $1.77 billion and $358.1 million respectively. 
The lack of wallet transparency has also constrained data tracking for exchanges such as Coinbase and Gemini. DefiLlama noted: “While these platforms report assets held due to them being publicly listed companies, they haven’t proven wallet transparency through proof-of-reserves.” 
This has further raised questions about the security of the market due to the lack of adequate information disclosure to enable full evaluation of the solvency of some of the exchanges. 
Nevertheless, the Binance model proves viable because it can fit the market and attract institutional funds. The dominance of the company is at 13 % in 2024, which proves it is a key participant in the global cryptocurrency market. 
<h2 style="font-weight: 400;" id="strong-conclusion-on-binance-inflows-growth-strong">Conclusion on Binance Inflows Growth</h2> 
In 2024, Binance inflows experienced 24 billion dollars, which proves its exceptional development and the desire of institutional investors. Today, it has almost 250 million users across the globe and controls trading volume, maintaining market pace on this point. 
Other platforms face problems with transparency and outflows, but the focus on regulation and product diversification has made Binance the leader of the crypto sphere. This pattern indicates that, Binance inflows will expand as the digital asset market grows and will be a reflection of the growth of the exchange and the cryptocurrency ecosystem in 2024. Keep following<a href="https://thebitjournal.com/"> The Bit Journal</a> and keep an eye on Binance Inflows. 
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Binance Inflows Crash Competitor’s Party with Record $24 Billion Target

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