The post CryptoQuant CEO: Binance Customers’ Bitcoin Balances Surge 25% in 2024 appeared on BitcoinEthereumNews.com.

CryptoQuant CEO: Binance Customers’ Bitcoin Balances Surge 25% in 2024 In 2024, Binance, the world’s largest cryptocurrency exchange, experienced a 25% increase in the Bitcoin balances held by its customers, according to CryptoQuant CEO Ki Young Ju. Despite enduring waves of fear, uncertainty, and doubt (FUD), Binance now holds 40% of the global Bitcoin reserve market share among Proof of Reserves (PoR) exchanges. This growth underscores Binance’s enduring influence in the cryptocurrency space and highlights customer confidence in its services. Binance’s 2024 Bitcoin Balance Growth Impressive 25% IncreaseCryptoQuant data reveals a substantial uptick in Bitcoin reserves on Binance: Customers have increased their Bitcoin holdings on the platform by 25% year-to-date (YTD). This growth comes amid industry-wide regulatory scrutiny and market uncertainty. Market Share LeadershipBinance now dominates the Proof of Reserves (PoR) exchanges, holding: 40% of global Bitcoin reserves, making it the single largest custodian among major exchanges. Why Binance’s Bitcoin Balances Are Growing Several factors contribute to the platform’s increasing Bitcoin reserves: 1. Customer Confidence in Proof of Reserves (PoR) Binance has actively showcased its Proof of Reserves to build transparency and trust. These audits reassure users that their funds are secure, especially in a post-FTX-collapse market. 2. Global Market Leadership Binance’s expansive services and global reach make it a preferred choice for retail and institutional investors. The exchange offers competitive fees, liquidity, and a user-friendly interface, attracting more customers. 3. Rising Bitcoin Adoption As Bitcoin adoption grows, more investors are turning to trusted platforms like Binance to store their holdings. Navigating FUD: Binance’s Resilience Despite its success, Binance has faced substantial FUD throughout 2024, including: Regulatory Scrutiny: Ongoing investigations and lawsuits in multiple jurisdictions. Market Volatility: Uncertainty around global economic conditions and crypto regulations. How Binance Maintains Confidence: Proactive communication with users about compliance and operational updates. Robust liquidity…

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Filed under: News - @ November 25, 2024 2:23 pm