Binance 2024 Performance Highlights: $21.6B Deposits and $100T Traded Volume
Binance, the world’s leading cryptocurrency exchange by trading volume and user base, has released its 2024 annual performance report. This year, Binance recorded $21.6 billion in user deposits—36% more than the combined total of the next 10 largest exchanges.
The platform’s remarkable growth has been driven by increased adoption from institutional investors. Average Bitcoin deposits across exchanges rose from 0.36 BTC to 1.65 BTC year-over-year, while Tether’s (USDT) average deposits surged from $19,600 to $230,000.
“2024 has been a transformative year for the crypto industry. We’re grateful to nearly 250 million users worldwide who trust Binance for their trading needs,” said Binance CEO Richard Teng.
The Binance Ecosystem: A Thriving Web3 Hub
Binance’s ecosystem has evolved into a robust Web3 network, boasting over $5.6 billion in Total Value Locked (TVL) and a stablecoin market cap exceeding $6.6 billion. According to Defillama, the Binance Smart Chain (BSC) now averages over 1 million daily active addresses—more than double Ethereum’s activity.
This year, Binance also reached a monumental $100 trillion in lifetime trading volume, further solidifying its position as a market leader.
What’s Next for BNB?
Binance’s native cryptocurrency, BNB, is poised for significant growth, with projections suggesting a rally beyond $1,000 in the coming months. As a top-tier altcoin, BNB has a fully diluted valuation of over $104 billion and averages $2.2 billion in daily trading volume.
Key Takeaways:
- $21.6B in 2024 deposits, 36% higher than top 10 exchanges combined.
- Over 1M daily active addresses on BSC, doubling Ethereum’s activity.
- $100T lifetime traded volume achieved this year.
- BNB poised for exponential growth, with a potential target above $1,000.
Binance continues to set benchmarks in the crypto space, showcasing why it remains the preferred platform for millions of users worldwide.
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