Binance, the leading cryptocurrency exchange by daily trading volume, has achieved a remarkable milestone by surpassing 200 million global users. This figure represents over a third of all cryptocurrency holders worldwide, further cementing Binance’s position as a dominant player in the crypto space.
In true celebratory fashion, Binance marked the occasion across its social media platforms, framing the 200 million user mark as a significant step on the company’s quest to onboard a billion users, or one in every eight people on Earth. The exchange’s official account on X.com (formerly Twitter) 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!”
Binance’s user growth has been staggering, with the exchange adding 40 million users in 2023, bringing its total count to 170 million. In just the first six months of 2024, Binance has already added at least 30 million more users, putting it on pace to reach 300 million users by 2026, assuming trends remain the same for both the company and the industry.
According to research from Triple-A, the global cryptocurrency consumer installation base reached 562 million people in 2024, up from 420 million users in 2023. These numbers indicate that Binance users account for approximately 36% of the global cryptocurrency user base.
Binance’s 200 million user milestone comes on the heels of another cryptocurrency industry record for the company. As reported by Cointelegraph back in March, Binance reached a total of $100 billion in user assets under custody, averaging out to about $500 worth of assets in custody per user.
Despite legal challenges faced by the company’s founder and former CEO, Changpeng “CZ” Zhao, who is currently serving a sentence on fraud charges, Binance appears to have emerged relatively unscathed. With CZ reportedly apologetic for his actions and dutifully serving his time, Binance’s focus remains on expanding its user base and solidifying its position as a leading force in the cryptocurrency industry.
