CandleFocus Binance CEO says users deposited over $21b to the exchange in 2024
2024-12-12
Author: Content Editor
Binance CEO Richard Teng announced that the crypto exchange saw $21.6 billion in user fund deposits in 2024 alone, which is almost 40% higher than the combined inflows of 10 other major exchanges. The average deposits for Bitcoin and Tether also increased significantly across all exchanges, indicating growing interest from professional and corporate investors. Binance's platform, Binance Launchpool, contributed a large share of the inflows, with most of the funds remaining on the platform. Binance also became the first centralized crypto exchange to achieve more than $100 trillion in lifetime trading volumes. Teng stated that the exchange is focusing on "global deployment" rather than returning to the US market.
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