- Binance celebrates yet another milestone.
- The exchange has solidified its status as the largest crypto exchange in the world.
- The achievement comes despite the exchanges’ challenges over the past two years.
Binanceโs journey over the past two years has been nothing short of a rollercoaster ride, packed with legal showdowns, regulatory crackdowns, billion-dollar fines, and even the incarceration of its founder. Yet, despite the swirling storm of chaos and controversy, the exchange remains resilient, continuing to grow and achieve major milestones, unfazed by the turbulence.
Binanceโs Major Milestone
On Saturday, June 8, Binance announced it had surpassed the 200 million user mark, solidifying its status as the largest crypto exchange in the world. With this milestone, no other exchange comes close to challenging its dominance. Bybit, the second-largest exchange, reports only 27 million users.
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Binance celebrated its achievement across its social media platforms, framing the 200 million user milestone as a significant step toward its quest of onboarding a billion usersโor one in every eight people on Earth.
The accomplishment comes just before Binanceโs seventh anniversary in July. Garnering 200 million unique users is a major feat for the exchange, which reported only 130 million users by 2023. Despite the drama of the past two years, the crypto exchange has added 70 million users, demonstrating remarkable resilience and growth.
At this pace, Binance could reach 300 million users by 2026. Impressively, the exchange now represents approximately 36% of the global crypto user base, which reached 562 million people in 2024, according to research from Triple-A.
On the Flipside
- Kaiko reports that Binance led Q1 2024 with the highest trading volume, followed by Bybit in second place and Coinbase in third.
- In March 2024, Binance achieved a milestone of $100 billion in user assets under custody.
Why This Matters
Binanceโs recent milestone underscores a crucial reality: when a product perfectly fits market demand, not even regulatory crackdowns or legal challenges can stifle its expansion.
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