CandleFocus Binance Pay Transactions Hit $72.4 Billion as Crypto Adoption Accelerates
2025-02-22
Author: Content Editor
The use of cryptocurrency for payments has seen significant growth, with Binance Pay experiencing a tripling in user base and a notable increase in transaction volume in 2024. The number of Binance Pay users reached 41.7 million, while the total transaction volume processed through the platform stood at $72.4 billion. Stablecoins, particularly Tether (USDT), dominated Binance Pay transactions, accounting for 80% of the total payment volume. Other cryptocurrencies like Bitcoin, Ethereum, and Binance Coin also contributed to the transaction value. The trend of high-frequency token transactions on Binance Pay includes Solana (SOL) leading the surge. Binance's cryptocurrency reserves also witnessed a significant increase. Globally, cryptocurrency ownership saw a 13% boost in 2024, with Bitcoin and Ethereum representing a large portion of ownership. The report also noted the potential impact of BTC investment through US spot exchange-traded funds and the pro-crypto policies of Donald Trump in driving adoption.
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