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

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


post.
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.

Binance
Inflows
Almost
3
Times
Greater
Than
Its
Next
Biggest
Competitor

Binance’s
inflows
are
almost
3
times
greater
than
that
of
Bybit,
which


DefiLlama

data
shows
is
the
second
biggest


exchange

in
terms
of
inflows
after
$8.2
billion
made
its
way
onto
the
platform. 

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.

Binance
Surpasses
$100
Trillion
In
Lifetime
Trading
Volume

Along
with
the
$24
billion
inflows
this
year,
Binance
also
noted
a
major
lifetime
trading
volume
milestone.
Citing
data
from


CCData,
the
exchange
said
that
it
has
become
the
first
centralized
crypto
exchange
to
surpass
$100
trillion
in
trading
volume.

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

@JA_Maartun

Link
????https://t.co/F0hq9kf1Xa

pic.twitter.com/lSwRR4blzH

—
CryptoQuant.com
(@cryptoquant_com)

November
22,
2024

That’s
after
Binance
and
other
crypto
exchanges
attracted
substantially
more
institutional
capital
in
2024
as
well.
The
average


Bitcoin

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


CryptoQuant. 

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