Binance achieves billions of dollars in consecutive inflows

This figure is five times higher than the net inflows of the next largest platform.

On Wednesday, November 6, 2024, Binance recorded over 13 million app visits in a single day, coinciding with increased attention following the US 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 holdings on Binance since Proof of Reserves began disclosing two years ago.

Additionally, CryptoQuant reported that Binance’s reserve percentage, which indicates the share of reserves held on Binance out of all foreign exchange reserves, rose to 25% this month, up 4% from 21% in November 2023. These milestones are strengthening the continued trust of users in Binance as the preferred platform for securely managing and protecting digital assets.

The recent surge in user activity also reflects broader market trends: since Tuesday, November 5, 2024, Bitcoin (BTC) prices have increased by almost 20%, while Ether (ETH) prices have increased by 30%. These price movements highlight the role of digital assets as a crucial part of the modern financial landscape.

Binance CEO Richard Teng shared: “This period of consecutive all-time highs, billion-dollar inflows on Binance and an increase in our reserve percentage underscores the strength and resilience of Binance, chosen by nearly 240 million users.” It also reflects the growing adoption and growth of digital assets across the global financial landscape.”

“The increasing discussions about cryptocurrencies during major political events such as the US presidential election also highlight the increasingly important role that cryptocurrencies are playing in shaping the future of finance and politics. We are indeed experiencing the golden age of cryptocurrencies, where their potential is being recognized and exploited worldwide,” he added.

As the cryptocurrency industry continues to evolve and enter mainstream discussions, Binance remains committed to providing a secure, transparent and comprehensive ecosystem to its users worldwide.