Saturday, June 22, 2024

Binance Surpasses 200 Million Users, Holds $100 Billion in Assets

This post was originally published on cryptonewsfarm.com

Binance Reaches 200 Million Users, Aims for a Billion

Binance, the world’s leading cryptocurrency exchange by daily trading volume, announced a significant milestone on June 8th, boasting 200 million users worldwide. This achievement solidifies Binance’s position as the industry leader in terms of user base. It’s important to note that these figures are self-reported by Binance.

Celebrating a Milestone and Looking Ahead

Binance commemorated the occasion with a celebratory message across its social media platforms. Highlighting the 200 million user mark, Binance framed it as a stepping stone on their ambitious journey to onboard a billion users – a target that represents one in eight people on the planet.

A post on the Binance X.com account stated, “Today, we celebrate 200 million – and it’s all because of YOU! Your support is the heartbeat of our journey to 1 billion users. Here’s to the stars of our story – you!”

Just two years ago, in 2022, Binance had roughly 130 million users. The exchange experienced significant growth in 2023, adding 40 million users and reaching a total of 170 million. So far in 2024, Binance has already surpassed that figure by adding at least 30 million more users within the first six months. This rapid growth suggests Binance could reach 300 million users by 2026, assuming current industry and company trends hold steady.

Binance Dominates Growing Crypto User Base

According to research by Triple-A, the global cryptocurrency user base reached 562 million people in 2024. This represents a substantial increase of 142 million users compared to 2023’s figure of 420 million. Notably, Binance users now account for approximately 36% of the total cryptocurrency user base worldwide.

Binance’s achievement of 200 million users comes shortly after another company record. As reported by Cointelegraph in March, Binance reached a total of $100 billion in user assets under its custody. This translates to an average of roughly $500 worth of crypto assets held per user on the platform.

Binance appears to be emerging relatively unscathed from its recent legal troubles. The company’s founder and former CEO, Changpeng “CZ” Zhao, is currently serving a four-month sentence in California on fraud charges. Reports indicate that CZ is remorseful for his actions and is dutifully serving his time in a minimum-security facility.

Source Link
Author: Sb

Read Also: Bitcoin Rebounds After Dip, Open Interest Slashed by $1.3 Billion

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

TokenTroop
Logo
There is nothing in your wishlist