Binance, the world’s largest cryptocurrency exchange by volume, made the announcement.
Binance, the world’s largest cryptocurrency exchange by daily volume, announced on June 8 that it had reached 200 million users worldwide.
As far as we know, no other exchange can boast of having so many users. It should be noted, however, that these figures were self-reported.
In true spirit of celebration, Binance marked the occasion on its social media platforms by describing the 200 million user mark as a milestone in the company’s quest to onboard one billion people, or one person out of eight on Earth.
For each post from your Binance account on X.com:
“Today we celebrate 200 million – and it’s because of you! Your support is the beating heart of our journey to 1 billion users. Here are the stars of our story – you!
In 2022, Binance only had around 130 million users. In 2023, the exchange added 40 million users, bringing the total to 170. Since then, just six months after 2024, it has already added at least 30 million more users. This puts Binance on track to reach 300 million users by 2026, assuming trends remain the same for the company and the industry.
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The global install base of cryptocurrency consumers reached 562 million people in 2024, an increase of 142 million from 420 million users in 2023, according to research from Triple-A. These numbers indicate that Binance users represent approximately 36% of the global cryptocurrency user base.
Binance’s 200 million user milestone follows the company setting another cryptocurrency industry record. As Cointelegraph reported in March, Binance reached a total of $100 billion in user assets under custody. This averages out to around $500 in assets held per user.
The company’s legal troubles are also largely behind us. With founder and former CEO Changpeng “CZ” Zhao currently serving a fourth month in prison for fraud, it appears that Binance has emerged relatively unscathed.
For his part, CZ would apologize for his actions and faithfully serve his sentence at a minimum security facility in California.
