In the year 2024, Binance anticipates a surge in user base by approximately 47%, bringing the total number of users to an impressive 250 million. This growth is accompanied by increased trading activity, setting new records for volume, as well as extensive developments and enhancements in their service offerings and compliance measures.
2024’s annual report from Binance is out, signifying a year filled with remarkable progress and achievements. By year-end, they surpassed 250 million registered users, representing a 47% jump over the previous year. The platform hit its stride by handling an astounding 4.44 million requests per second, demonstrating its impressive scalability and speed. Notably, institutional and Binance VIP users saw a significant increase of 97% and 116%, respectively. This growth underscores Binance as the dominant player in the crypto sector.
In 2024, cryptocurrencies gained widespread acceptance, attracting a significant presence from institutional investors. Amidst these developments, Binance was among the initial companies to innovate and broaden its services to cater to both individual and institutional clients. By this year, the platform had accumulated $160 billion in assets under management and boasted a staggering $100 trillion in total trading volume, underscoring the faith users place in it.
The popularity of this entity increased, along with an enhancement in its adherence and security levels. Notably, Binance has significantly boosted its compliance efforts, expanding its internal team to include 650 compliance experts. This growth led to the platform receiving regulatory approvals in a record 21 jurisdictions, surpassing any other global cryptocurrency platform. Furthermore, Binance took robust measures against scams and fraud, thus preventing potential losses of approximately $4.2 billion from affecting its users.
Binance Earn TVL Soars 144%, Binance Pay Users Surge 226% in 2024
Besides its trading capabilities, Binance also made significant strides. The platform’s ancillary services like Binance Pay, Binance Earn, and On Chain Yields all expanded substantially. For instance, the Binance Earn client experienced a 144% increase in total value locked (TVL), while active users of Binance Pay saw a jump of 226%. This growth underscores Binance’s commitment to expanding financial opportunities and utility.
Binance’s success wasn’t limited to trading. Its auxiliary services such as Binance Pay, Binance Earn, and On Chain Yields all flourished. For example, the value locked in the Binance Earn client grew by 144%, and the number of active users on Binance Pay increased by a staggering 226%. This growth highlights Binance’s dedication to broadening financial access and utility.
In addition to maintaining their social and communal endeavors, Binance Academy imparted knowledge to 44 million individuals, while Binance Charity distributed approximately $6.9 million. With 35 million monthly active users on Binance Square, the platform’s community flourished. Cristiano Ronaldo was among several influential figures in the crypto world who partnered with him, contributing to the widespread acceptance of cryptocurrencies within popular culture.
As Binance moves towards 2025, its momentum is undeniable, given its focus on innovation, security, and compliance. By staying at the forefront of these key areas, the company positions itself to remain a dominant force in the cryptocurrency sector. Known as the world’s premier cryptocurrency exchange with more than 250 million users and impressive trading volumes, Binance is eager to shape the financial landscape during the Web3 era.
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2025-01-10 11:19