Binance hosts 200 million users worldwide
The largest cryptocurrency exchange in the world based on daily volume, Binance, revealed that it has 200 million users worldwide. It is important to note that these numbers are self-reported.
The business’s legal problems are likewise mostly in the past. It seems like Binance has come off largely unscathed, with founder and former CEO Changpeng “CZ” Zhao serving a fourth-month sentence on fraud charges.
Binance celebrated the milestone by presenting the 200 million user mark as a turning point in the company’s journey to onboard a billion users on all of its social media channels, or one in every eight persons on the planet.
We are celebrating 200 million today, and YOU are the reason behind it all! Our quest to reach one billion users depends on your support. Cheers to you, the stars of our tale! the exchange added.
As of 2022, there were only about 130 million users on Binance. The exchange reached 170 users in 2023 after adding 40 million new users. In the meanwhile, at least 30 million more had been added as of six months into 2024. If the company’s and the industry’s current trends continue, Binance is expected to achieve 300 million users by 2026.
According to a Triple-A study, the global cryptocurrency consumer installation base reached 562 million persons in 2024, an increase of 142 million over 420 million users in 2023. Based on these figures, almost 36% of all cryptocurrency users worldwide are Binance users.
Following yet another industry record for the company in the cryptocurrency space, Binance has reached 200 million users. In March, Cointelegraph reported that Binance has amassed $100 billion in user assets under management. On average, each user has assets in custody valued at approximately $500.
The research division of Binance digital assets exchange claims that since the beginning of the year, the amount of money entering the cryptocurrency industry has increased by double digits.
Decentralized finance, or DeFi, is one of the main benefactors of the “resurgence of markets,” according to a recent analysis by Binance Research.
“Notably, a significant capital inflow into DeFi has coincided with the overall market rally, driving the total value locked to US$94.9 billion this year, up from US$54.2 billion at the beginning of the year, indicating a strong 75.1% year-to-date rebound.”
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