CandleFocus

Binance Surpasses $5 Billion in November Inflows, Hits Record $130B in User Assets

Binance, the world's largest cryptocurrency exchange, has experienced two consecutive weeks of billion-dollar inflows, bringing its net inflows for November to over $5 billion. This is five times higher than the net inflows of the second largest platform. Binance's position as the preferred trading platform is strengthened by this expansion, which coincided with increased attention following the US presidential election. User asset holdings on Binance have reached $130 billion, the highest since the company started disclosing Proof of Reserves two years ago. Binance's reserve percentage also increased to 25%, indicating users' trust in the platform. The recent boost in user activity is reflective of the overall market trend, with the prices of Bitcoin and Ether increasing significantly. Binance CEO, Richard Teng, highlighted the growing acceptance and adoption of digital assets globally and the increasing role of cryptocurrencies in shaping the future of finance and policy. Despite the evolving cryptocurrency sector, Binance remains committed to providing a safe and comprehensive ecosystem for its customers.

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