Binance Sees $24B Inflows And Passes $100T In Trading Volume

Binance Records $24 Billion Inflows In 2024 As The Exchange Surpasses $100 Trillion In Lifetime Trading Volume

Updated: 13 December 2024

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Leading crypto exchange Binance has accumulated more than $24 billion in inflows from user deposits in 2024 while also surpassing $100 trillion in lifetime trading volume.

This growth “aligns with a surge in global adoption of digital assets,” Binance said in a Dec. 11 blog post. Recent developments including a series of regulatory victories, historic price milestones, and the launch of spot Bitcoin ETFs (exchange-traded funds) in the US, Hong King and other large markets drove “millions of users to Binance,” the exchange added.

Binance Inflows Almost 3 Times Greater Than Its Next Biggest Competitor

Binance’s inflows are almost 3 times greater than that of Bybit, which DefiLlama data shows is the second biggest exchange in terms of inflows after $8.2 billion made its way onto the platform.

In third place is OKX, with its inflows standing at around $5.3 billion. DefiLlama’s list does not include Coinbase and Gemini because of their inadequate “wallet transparency,” according to the DeFi data platform.

In fourth and fifth place are BitMEX and Robinhood, respectively. BitMEX’s proof of reserves show the exchange’s net inflows stand at $3.165 billion. Robinhood trails closely on BitMEX’s heels with its $3.165 billion inflows, according to DefiLlama. Bitstamp comes in at sixth place with its net inflows totaling $2.12 billion.

Binance Surpasses $100 Trillion In Lifetime Trading Volume

Along with the $24 billion inflows this year, Binance also noted a major lifetime trading volume milestone. Citing data from CCData, the exchange said that it has become the first centralized crypto exchange to surpass $100 trillion in trading volume.

Binance Stablecoin Inflow Hits All-Time High of $10.2 Billion

“This surge shows the increasing reliance on Binance for a range of trading activities, including buying Bitcoin and altcoins, and participating in futures markets.” – By @JA_Maartun

Link 👇https://t.co/F0hq9kf1Xa pic.twitter.com/lSwRR4blzH

— CryptoQuant.com (@cryptoquant_com) November 22, 2024

That’s after Binance and other crypto exchanges attracted substantially more institutional capital in 2024 as well. The average Bitcoin deposit size on these platforms has risen from 0.36 BTC to 1.65 BTC this year. Deposits for the largest stablecoin by market cap, Tether (USDT), also soared from $19,600 to $230,000, according to CryptoQuant.