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Binance, the largest cryptocurrency exchange by daily trading volume, announced on June 8 that it has reached a milestone of 200 million global users. This achievement represents over a third of all cryptocurrency holders worldwide, according to self-reported figures from the company.
Celebrating this milestone, Binance highlighted the significance of their user base in their journey towards onboarding one billion users, which would equate to one in every eight people on Earth. In a celebratory message on their social media platform X (formerly Twitter), Binance stated:
“Today, we celebrate 200 million – and it’s all because of YOU! Your support is the heartbeat of our journey to 1 billion users. Here’s to the stars of our story – you!”
The growth trajectory for Binance has been impressive. In 2022, the exchange had around 130 million users. By 2023, it had added 40 million more users, bringing the total to 170 million. In the first half of 2024 alone, Binance has added at least 30 million additional users, suggesting that it could potentially reach 300 million users by 2026 if current trends continue.
According to research from Triple-A, the global cryptocurrency user base reached 562 million people in 2024, a significant increase from 420 million in 2023. This means that Binance users account for approximately 36% of the global cryptocurrency user base.
In addition to reaching 200 million users, Binance has also set another industry record by accumulating $100 billion in user assets under custody. This equates to about $500 worth of assets per user on average.
Despite facing legal challenges, including founder and former CEO Changpeng “CZ” Zhao serving a four-month sentence on fraud charges, Binance has continued to grow and maintain its position in the industry. CZ is reportedly apologetic for his actions and is serving his time in a minimum-security facility in California.
This milestone marks a significant achievement for Binance, showcasing its dominant position in the cryptocurrency market and its potential for future growth as it aims to further expand its user base and services.
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