Binance Surpasses 200 Million Users, Achieves Major Milestone

by

As a seasoned crypto investor, I’m always keeping an eye on the latest developments within the industry. The recent news that Binance, the world’s leading cryptocurrency trading platform, has surpassed 200 million global users and holds $100 billion in assets under custody is truly remarkable.

The globe’s leading cryptocurrency exchange in terms of trading volume, Binance, has disclosed that it now counts more than 200 million users around the world. This figure translates to over one-third of all crypto investors globally.

Besides reaching 200 million users, Binance now has $100 billion in assets under custody. 

Binance Reaches Major Milestone

Starting from its beginning, Binance has provided a safe and convenient platform for cryptocurrency trading to its users. It caters to various needs with features such as decentralized finance (DeFi), spot market trading, futures contracts, and other services. Recently, Binance announced that it has reached over 200 million registered users – an impressive achievement. The exchange shared this update on all its social media channels while aiming for a user base of one billion, which is approximately one in every eight people globally. However, please note that the numbers reported by Binance are self-reported.

Today marks a significant milestone as we reach 200 million users, an achievement we couldn’t have accomplished without your invaluable support. You are the driving force behind our quest to join the ranks of the billion-user community. Cheers to the shining stars of our tale – you!

Binance aspires to go beyond being merely a cryptocurrency trading platform; it intends to expand its reach in the realm of blockchain education and innovation via Binance Academy and Binance Research. These initiatives enable Binance to offer informative resources, making complex blockchain and crypto concepts accessible to the masses, thereby promoting equal access to knowledge and increasing overall adoption. Additionally, Binance has forged collaborations aimed at advancing cryptocurrencies, shaping a future where digital currencies seamlessly blend with everyday life.

Growth Trajectory 

As an analyst, I’ve been tracking Binance’s user growth and

Based on Triple-A’s data, the worldwide cryptocurrency user base expanded to approximately 562 million people in the year 2024. This is a significant increase from the around 420 million users reported in 2023. Among this massive user base, Binance accounts for roughly 36%.

Another Major Milestone 

Binance reached a new accomplishment in July by amassing over 200 million users, following closely on the heels of another achievement in March when the platform managed $100 billion worth of assets. The company reported that the value of user holdings on Binance has more than doubled since the start of the year, largely due to the consistent increase in digital asset prices, resulting in a substantial rise in the total assets under Binance’s management.

As an analyst, I can assure you that every dollar or its equivalent in user funds is securely stored with us at Binance. We go beyond the 1:1 ratio by keeping extra reserves. You have the power to verify this fact using our Proof-of-Reserves (POR) system. The digital asset market has experienced an impressive and consistent price surge recently, which inevitably results in an increase in the value of assets held by Binance on behalf of its users.

The cryptocurrency exchange has managed to move past its legal troubles, with its ex-CEO, Changpeng Zhao, currently serving a four-month prison term for fraud-related offenses. Zhao has expressed remorse for his actions and for the time he’s spending in a minimum security facility in California.

Read More

2024-06-10 17:05