Dubai, UAE, November 12th, 2024,
Chainwire
Binance has recorded increased inflows
alongside heightened asset volumes in its reserves, underscoring
the platform’s strength and the growing acceptance of digital
assets in global finance. Elevated user engagement following the
U.S. election further emphasizes the industry’s expanding role in
mainstream financial and policy discussions.
Binance, the world’s leading blockchain
ecosystem and the largest cryptocurrency exchange by trading volume
and users, has achieved two consecutive billion-dollar inflow
weeks, bringing net inflows for November to over $5 billion,
according to DeFiLlama data. This figure
is five times greater than the net inflows of the next largest
platform. This remarkable growth underscores Binance's position as
the preferred trading platform amid surging market demand and
heightened interest in digital assets.
On Wednesday, November 6, Binance recorded over 13 million app
visits in a single day, corresponding with heightened attention
following the U.S. Presidential Election results. Building on this
momentum, Binance’s user asset holdings have reached $130 billion
as recorded on DefiLlama’s dashboard —
marking the highest user asset holding on Binance since it began
Proof of Reserves
disclosures two years ago. Alongside this, CryptoQuant reported
that Binance’s reserve percentage, which shows the proportion of
reserves held on Binance compared to all exchange reserves, climbed
to 25% this month, up 4% from 21% in November 2023. These
milestones reinforce users' enduring trust in Binance as their
preferred platform for securely managing and safeguarding digital
assets.
The recent surge in user activity also mirrors broader market
trends: since November 5th, Bitcoin (BTC) prices have risen by
nearly 20%, while Ether (ETH) prices have surged by 30%. These
price movements emphasize the role of digital assets as a critical
component of the modern financial landscape.
Richard Teng, CEO of Binance, shared: “This period of
consecutive all-time highs, billion-dollar inflows on Binance, and
an increase in our reserve percentage highlights the strength and
resilience of Binance, chosen by nearly 240M users. It also
reflects the growing acceptance and growth of digital assets within
the global financial landscape.”
“The increased discussions around crypto during major political
events, such as the U.S. Presidential Elections, also highlight the
increasingly pivotal role cryptocurrencies play in shaping the
future of finance and policy. Truly, we are witnessing the golden
era of crypto, where its potential is being realized and embraced
globally,” he added.
As the cryptocurrency industry continues to evolve and engage in
mainstream discussions, Binance remains dedicated to providing a
secure, transparent, and comprehensive ecosystem for its users
worldwide.
About Binance
Binance is a leading global blockchain ecosystem behind the
world’s largest cryptocurrency exchange by trading volume and
registered users. Binance is trusted by more than 200 million
people in 100+ countries for its industry-leading security,
transparency, trading engine speed, protections for investors, and
unmatched portfolio of digital asset products and offerings from
trading and finance to education, research, social good, payments,
institutional services, and Web3 features. Binance is devoted to
building an inclusive crypto ecosystem to increase the freedom of
money and financial access for people around the world with crypto
as the fundamental means. For more information, visit: https://www.binance.com
Contact
Marina
Zibareva
pr@binance.com