TL;DR
- Binance has surpassed a trading volume of $100 trillion, driven by the recent recovery of Bitcoin’s price, which has once again crossed the $63,000 mark.
- The platform has added 70 million users in the last year and a half, reaching 200 million registered users, representing about 36% of the global total.
- Despite facing regulatory challenges, the exchange has seen a 40% increase in institutional investor participation.
Binance, the world’s largest cryptocurrency exchange, has surpassed a trading volume of $100 trillion, driven by the bullish market momentum. This achievement coincides with the recovery in Bitcoin’s price, which has once again broken the $63,000 barrier.
Throughout this year, Binance has experienced significant growth in its user base, adding 40 million new users in 2023 and another 30 million in the first six months of 2024. Currently, the platform has approximately 200 million registered users, which represents about 36% of all cryptocurrency users globally.
Fun fact: Earlier this month, the all-time trade volume on #Binance surpassed $100 trillion! 🎉
Through the highs and lows, Binance will keep building. Because ours users only deserve the best.
Thank you for your trust and support! 🤝
— Richard Teng (@_RichardTeng) September 24, 2024
Despite the regulatory challenges it has faced, including a $4.3 billion fine, Binance continues to show exceptional performance in the market. The participation of institutional and corporate investors has increased by 40% compared to the previous year, demonstrating a growing confidence in the platform and its service offerings.
The Key for Binance: Always at the Forefront of the Industry
Richard Teng, CEO of the exchange, commented in a recent interview with CNBC that the trend of institutional interest has been consistent, although he did not provide specific details about investment figures.
The increase in Binance’s trading volume in the complicated context of regulatory scrutiny is a testament to its resilience and focus on innovation within the cryptocurrency industry. The platform is focusing on improving user experience and diversifying its services.
This growth should also be understood as part of the platform’s efforts to remain at the forefront, marking its influence in the industry. The exchange’s ability to adapt and thrive will be crucial to maintaining its position as a leader in the industry.
