In 2024, Binance recorded $21.6B in user deposits, more than the next 10 exchanges combined, and became the first platform to exceed $100 trillion in lifetime trading volume.
Why it matters
As the industry wrestles with market corrections and security breaches, Binance has solidified its reputation as crypto’s go-to safe haven.
By the numbers:
- User fund deposits: $21.6B in 2024
- BTC average deposit: Rose from 0.36 BTC to 1.65 BTC
- USDT average deposit: Jumped from $19.6K to $230K
- Spot market share in Q1 2025:
- BTC: 33% → 49%
- Altcoins: 38% → 44%
- Total: 45% (TokenInsight)
Zoom in
When a peer exchange suffered a $1.4B hack in February 2025, users rushed to Binance. Net inflows hit $3.97B in just one week—10x more than nine other major exchanges combined.
State of play
Even as trading volumes across the crypto space plummeted in Q1 2025 (BTC: $44B → $10B, Altcoins: $122B → $23B), Binance gained share. During high-volatility events, it processed more volume than all competitors combined.
Trust signals
- Binance prevented $4.2B in fraud-related losses in 2024
- SAFU fund remains a $1B emergency buffer
- 270M+ users as of April 2025
- Institutional user base grew 97% in 2024
- MGX invested $2B in Binance, fully in crypto
The bottom line
In every market phase—bull runs, black swans, or bear lulls—Binance remains the constant. As crypto matures, the industry’s “flight to quality” increasingly has just one destination.
