Binance Reaches 200 Million Users Worldwide, Aims for 1 Billion
Summary:
Binance, the world's largest cryptocurrency exchange, has announced it's reached 200 million global users, making it a significant force in the cryptocurrency world. This milestone highlights the exchange's rapid growth, from 130 million users in 2022 to an estimated 300 million by 2026, assuming current trends continue. Binance users now represent about 36% of the global cryptocurrency user base, reinforcing the company's influence and success in the industry, despite recent legal troubles involving its founder.
As of June 8, Binance, the world's biggest cryptocurrency exchange in terms of daily volume, disclosed that it has amassed a user base of 200 million people worldwide. No other exchange has as many users as Binance does, to the best of our knowledge. However, it is important to note that Binance itself has provided these user figures. To mark this momentous occasion, Binance took to social media and celebrated 200 million users as a stepping-stone towards their aim of welcoming a billion users, equating to one out of every eight individuals on the planet. Source: Binance. Binance's X.com account posted: "Today, we are commemorating reaching 200 million— all because of YOU! Your unwavering support fuels our mission to reach one billion users. Here's to YOU – the true stars of our narrative!”
In 2022, Binance had roughly 130 million users. In 2023, the user base increased by 40 million, bringing the total to 170 million. In the following months, it attracted at least 30 million new users in the first half of 2024, positioning Binance on track to surpass 300 million users by 2026, provided the current trends for the company and industry continue. Related: Will Bitcoin exceed $70K in conjunction with a booming labor market? According to data from Triple-A, the worldwide user base for cryptocurrency services reached 562 million in 2024, an increase of 142 million from 420 million users in 2023. This demonstrates that Binance users make up around 36% of the global cryptocurrency user base. The glimpse of another record for the cryptocurrency industry is Binance's achievement of having 200 million users. Back in March, as reported by Cointelegraph, Binance had a total of $100 billion in customer assets under management, which averages out to about $500 per user. The company's legal troubles are also seemingly behind them. Despite the fourth-month sentence for fraud charges against their founder and ex-CEO Changpeng "CZ" Zhao, Binance seems to have bounced back quite well. CZ, contritely accepting his actions, is reportedly serving his sentence dutifully at a minimum-security prison in California.
Published At
6/9/2024 12:15:52 AM
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