2024 stood out as an exceptional year in the world of cryptocurrencies, with major players and platforms capturing a significant portion of the market pie. One such prominent player is the leading cryptocurrency exchange, Binance, accounting for nearly 39% of the market share among centralized crypto trading platforms.
In the final report for last year, it was noted that the company experienced extraordinary expansion and surpassed multiple targets in 2024. Additionally, the platform contributed substantially to fostering widespread acceptance and safeguarding against possible losses due to cyber threats or attacks.
Binance Releases 2024 EOY Report
2024 marked the first instance where Binance revealed that it managed over $160 billion worth of user assets. This figure was bolstered by influxes of more than $30 billion. Notably, this figure surpassed the combined total of the top ten other crypto exchanges by a substantial margin.
1) In just the past six months, our primary cryptocurrency exchange has expanded to 20 additional nations and experienced a significant increase of 47% in new registered users, surpassing 250 million total users after adding an impressive 50 million users. Furthermore, our VIP user base witnessed a notable jump of 116%.
The number of active users on Binance Pay experienced a significant increase of 226%, and the number of learners using Binance Academy skyrocketed to 44 million, marking a substantial growth of 63%. Furthermore, the total value locked (TVL) in Binance Earn saw a remarkable boost, with user savings rising by 144% and over 410 tradable assets now available.
Binance’s accomplishments in 2024 went beyond simply setting records; they were about initiating, boosting, and molding trends that resonate with cryptocurrency users. The exchange made a point of meeting users where they are or being there for them during crucial moments, demonstrating its strong dedication to the community,” as stated by the exchange.
New Products and Enhanced Security
Furthermore, Binance expanded its payment methods and fiat currency options to over 1000 and 125 respectively. As a result of this growth in users and supported currencies, Binance’s overall average daily trading volume increased by 27%, and the exchange’s margin trading volume saw a staggering rise of over 290%. Notably, Binance also set a new record by handling 4,444,000 requests per second.
As a crypto investor, I’m thrilled about the latest offerings from Binance! They’ve introduced innovative products such as Spot Copy Trading, which allows me to easily replicate trades made by top performers on the platform. Additionally, they’ve rolled out features like Token Unlock and Vesting Schedule, providing more flexibility in managing my token investments. Lastly, their first-of-its-kind reward-bearing margin asset, BFUSD, is a game-changer, offering an attractive return on margin trades!
Binance emphasized that the improvements they’ve made in their Spot, Futures, Margin, and Convert products and features have been crucial in making these financial tools more accessible, user-friendly, and convenient for both individual and institutional clients.
Simultaneously, the trading platform effectively averted approximately $4.2 billion in possible losses for around 2.8 million users and retrieved $88 million of assets that had earlier been stolen.
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2025-01-11 20:10