In 2024, Binance's capital inflow reached $21.6 billion, accounting for nearly 40% of the total capital inflow of the next ten exchanges

According to DefiLlama's rankings, so far this year, the user fund inflow of Binance, the world's largest digital asset exchange by registered users and trading volume, is nearly 40% higher than the total of the next 10 cryptocurrency exchanges. According to data from the platform, as of 2024, Binance's fund inflow is $21.6 billion, while the inflow for the next 10 exchanges is $15.9 billion (36% less).

This year, global optimism towards digital assets has been on the rise, supported by significant regulatory progress, increasing adoption rates, and prices reaching historical milestones. As more users transfer funds to the Binance exchange, participating in what could be the dawn of a cryptocurrency golden age, Binance's global user base has grown to 244 million. Another strong driver of fund inflow may be the success of this year's Binance Launchpool program, reflecting the growing interest of users in new tokens. Binance has observed that these funds often remain on the platform.

In 2024, the crypto industry reached a historic milestone. Bitcoin ETFs have been approved in major markets such as the United States, Brazil, Hong Kong, and Australia, marking a broader acceptance of digital assets. In just one year, net inflows into BTC ETFs have surpassed those of gold ETFs, demonstrating the increasing role of cryptocurrencies in finance and their deeper integration with more traditional institutions and systems.

The launch of Bitcoin ETF options has made it easier for institutional investors to gain exposure and hedge risks, significantly contributing to the recent surge. With substantial funds flowing into these ETFs, Bitcoin is expected to further integrate into mainstream financial markets.

"2024 is a milestone year for the cryptocurrency industry, and we are very grateful for our 244 million users, who continue to trust Binance as their chosen trading platform. Their unwavering support and confidence drive us to innovate and provide the best experience in the world of digital assets." ------ Binance CEO Richard Teng

According to data from digital asset data provider CCData, another recently recorded milestone further highlights Binance's leadership in the cryptocurrency market, as it is the first centralized cryptocurrency exchange to exceed a lifetime trading volume of $1 trillion.

On-chain and market data analysis provider CryptoQuant emphasized that this year "marks a significant shift in the cryptocurrency industry, with exchanges reporting a sharp increase in average deposits of Bitcoin and USDT, indicating higher institutional participation. The average Bitcoin deposit across all exchanges has risen from 0.36 BTC in 2023 to 1.65 BTC, while USDT deposits have soared from $19,600 to $230,000. These larger deposits reflect the growing interest of professional and corporate investors, distinguishing institutional activity from retail trading."

Their report states, "Binance leads the industry in institutional growth, with the largest average increase in Bitcoin deposits among major exchanges."