The year 2024 marked a pivotal moment for the cryptocurrency market, characterized by significant maturation and increased institutional interest.
With a President-elect advocating for the U.S. to become a global crypto hub, the market saw substantial growth as more individuals turned to crypto platforms and exchange-traded funds (ETFs) for investment.
This surge in crypto adoption was facilitated by a more favorable regulatory environment, allowing digital currencies to integrate into the mainstream financial system.
The positive sentiment surrounding rising crypto prices attracted a wave of new users to decentralized finance (DeFi) platforms, many of whom opted for the reputable exchange, Binance.
Under the leadership of CEO Richard Teng, Binance has played a crucial role in guiding the industry through this transformative period. Teng emphasized the company’s commitment to serving user interests and setting industry standards.
As of late 2024, Binance accounted for approximately 50% of global trading volume, a figure that has grown significantly throughout the year. During the U.S. Presidential election week, Binance alone captured $7.7 billion of the $20 billion total inflows across all exchanges. The exchange also achieved a remarkable milestone, surpassing 200 million users and safeguarding over $130 billion in user assets.
