The 2024 bull market doubled the professional and institutional users on Binance
The post The 2024 bull market doubled the professional and institutional users on Binance appeared on BitcoinEthereumNews.com.
The 2024 bull market led to a historical year for Binance. Centralized exchanges proved key for market growth, getting a boost from professional and institutional traders. Binance crossed the milestone of 250M registered users during the 2024 bull market, based on data from its annual report. Centralized exchanges proved key for liquidity and producing fast price reactions, despite the growth of competing DEXs. On average, daily volumes on Binance grew by 27%, while margin trading volumes were up by 390% for all of 2024. Binance carried more than $160B in user assets under custody, while breaking above $100 trillion in all-time trades. At the end of the year, Binance actively traded 388 listed assets, with 412 coins and tokens available on Binance Earn. Users flocked to Binance at the first sign of an accelerating bull market. The last 50 million users were added in the second half of the year. The exchange attracted new registrations both as a source of Bitcoin (BTC) for long-term investors, and as a hub for the newest meme and AI agent tokens. The exchange pivoted quickly to offer access to some of the hottest markets, bringing a mix of spot and futures pairs. For new traders, Binance offered a mix of easy access and educational products. Volumes expanded for spot, futures and leveraged trading, with additional user engagement from products like Spot Copy Trading. Additional incentives were given with the BFUSD reward-bearing asset for margin trading. Institutional users accelerated adoption in 2024 Institutional growth marked the tidal shift in 2024, with Binance becoming one of the key hubs for professional investors. Binance’s VIP users increased by 116%, while institutional user registrations expanded by 97%. Binance has pointed out institutions may be the main drive behind the next wave of adoption. Large-scale investors have grown with…
Filed under: News - @ January 9, 2025 9:27 am