Binance User Deposits Reach $21.6 Billion This Year… Surge in Institutional Inflows
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- Binance reported that this year's user deposits reached $21.6 billion, surpassing the total of 10 other exchanges.
- It emphasized that various factors, including Bitcoin ETF approvals, have driven Binance's growth.
- CEO Richard Teng stated that 2024 was a significant year for the cryptocurrency industry.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Global cryptocurrency exchange Binance has released its user fund inflow report for this year.
On the 12th (local time), Binance disclosed various user fund-related metrics through its official channels. According to the report, Binance recorded user deposits of $21.6 billion in 2024, with an average Bitcoin (BTC) deposit of 1.65 BTC and a Tether (USDT) deposit of 230,000 USDT across the exchange.
Binance emphasized, "This year's user fund deposits amount to $21.6 billion, which is higher than the total of $15.9 billion for the top 10 other exchanges," adding that "various factors such as historical price milestones and Bitcoin ETF approvals in major markets like the United States, Brazil, and Hong Kong have driven Binance's growth."
Richard Teng, CEO of Binance, stated, "2024 has been an incredible year for the cryptocurrency industry," and expressed gratitude to the 250 million users who continue to trust Binance as their trading platform.
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