Binance "Users surpass 300 million this year… trading volume nears $34 trillion"

The global cryptocurrency exchange Binance's users have surpassed 300 million this year. Binance's trading volume within the year was reported to be $34 trillion (about 49.2 quadrillion won).

On the 31st (local time), Binance reported that, as of that date, Binance users totaled about 302.76 million. Binance's trading volume this year reached about $34 trillion, thanks to roughly half of the world's Bitcoin (BTC) and Ethereum (ETH) trading volume taking place on Binance.

By type, retail investor trading volume this year was recorded as having surged 125% compared to a year earlier. Institutional investor trading volume increased 21% over the past year.

Supplementary services also showed notable performance. According to Binance, about 60% of major on-chain transactions this year were processed through Binance Wallet. The decentralized exchange (DEX) 'Binance Alpha 2.0' launched by Binance this year surpassed $1 trillion in cumulative trading volume and secured about 17 million users.

Binance also released its outlook for next year. He Yi and Richard Teng, Binance co-chief executive officers (CEOs), said in a New Year's message, "The macro trend is leading the market from 'uncertain expansion' to 'certain expansion,'" adding, "This momentum points to increased liquidity and the practical increase in the use of (cryptocurrencies)."

They continued, "The next generation of cryptocurrency growth will be driven by two forces: state-level capital injection and enterprise applications," and added, "This is a fundamental restructuring of financial infrastructure that can no longer be summarized as a simple 'bull market.'"