The post Binance Reports 47% Growth in 2024, Reaches 250M Users appeared on BitcoinEthereumNews.com.

Binance reports 47% growth in 2024, reaching 250M users, with record trading volumes, and significant expansion in services and compliance. Binance has released its 2024 annual report, marking a year of incredible growth and milestones. It reached over 250 million registered users by the end of the year — a 47% increase compared to last year. The platform achieved its best performance by processing a record 4.44 million requests per second, displaying the high scalability and speed of the platform. Meanwhile, institutional and Binance VIP users rose by 97% and 116%, respectively. The growth showcases Binance being the leading platform in the crypto industry. Cryptocurrencies finally went mainstream in 2024, with institutional players starting to show up in force. Among all these changes, Binance was one of the first companies to pioneer and expand its services to fulfil the needs of both retail and institutional users. By 2024, the platform hit $160B in assets under custody and $100T in the cumulative trading volume, confirming the trust users have in it. It grew in use, and it also grew in compliance and security. But Binance has invested heavily in compliance, with an in-house team growing to 650 experts. As a result of this expansion, the platform won regulatory approvals in 21 jurisdictions, more than any other global crypto platform. Additionally, Binance implemented numerous steps to take down scams and fraud, which prevented $4.2 billion in eventual losses from reaching users. Binance Earn TVL Soars 144%, Binance Pay Users Surge 226% in 2024 Trading was not the only place the platform succeeded. Growth-wise, Binance’s services such as Binance Pay, Binance Earn, and On Chain Yields also grew. In terms of total value locked (TVL), the Binance Earn client was up 144% while active users of the Binance Pay client jumped 226%. Binance’s…

---

Filed under: News - @ January 10, 2025 10:24 am