Binance 2024 report highlights surpassing 250M users, with 50M added in six months, and nearly doubling its institutional user base. The exchange also achieved a cumulative trading volume of $100 trillion, showcasing its market dominance.
Details of Binance 2024 Report
Binance has released its end-of-year report for 2024, which shows its main areas of progress and growth data. The story says that the company ecosystem had more than 250 million registered users in 2024, with an amazing 50 million more added in just six months.
Because of new features like Binance Wealth and Banking Triparty, the number of business users on Binance almost doubled. These tools made it easier for traditional banks that wanted to look into the possibilities of crypto to start using it.
At the same time, the exchange’s total trade volume reached an amazing $100 trillion, which shows how dominant and reliable it is in the market.
The platform also took care of $160 billion in user assets, which shows that users are confident in its security and performance. These numbers showed that the exchange was more than just a site; they showed that it was a key part of the crypto revolution.
“From exceeding $160 billion in user assets under custody to reaching a cumulative historical trading volume of $100 trillion, Binance showcased the trust placed in it by users worldwide,” the report said.
In 2024, security and compliance became the most important parts of Binance’s growth. The site kept users from losing up to $4.2 billion and got back $88 million that had been stolen. Its image for protecting user assets and keeping the market honest was strengthened by these actions.
“We prevented $4.2 billion in potential user losses, protecting 2.8 million users from malicious actors,” Binance said in the report.
A special compliance team of 650 experts got permissions in 21 different places. Binance also worked with law enforcement around the world, answering 65,000 requests and teaching more than 1,300 investigators in 80 countries. These projects showed that the exchange was taking a proactive approach to safety and working together in the crypto community.
A big part of making users more aware was also education. Along with other tools, the Risk Sniper channel taught users about new threats, giving them the skills to handle risks in a fast-paced setting.
226% More People Are Using Binance Pay
Binance did a lot to make crypto options more available. The number of people using Binance Pay increased by 226%, and fiat-to-crypto routes were opened in 20 countries. It became easier to use decentralized finance as well. For example, Binance Earn saw a 144% rise in value locked in through easier-to-use tools like On-Chain Yields.
With the ability to handle 4.44 million requests per second, the platform’s technology was unbeatable. Trading numbers increased across Spot, Futures, and Margin products thanks to new features like Spot Copy Trading and BFUSD. This shows that the platform can grow and is focused on users.
Binance’s dedication to education struck a chord with its growing customer base. In 2024, 44 million students learned from Binance Academy. This was 63% more than in 2023. By working with important groups, it gave users useful information for navigating the Web3 world, which was changing quickly.
Binance increased its social effect in areas other than education. Binance Charity gave $6.9 million to help 72,000 people who were hurt by catastrophes. Programs like Women in Technology Academy showed how the platform wanted to make the tech world more open and welcoming.
