- The Binance team revealed a comprehensive overview of the performance and state of the digital asset industry for the first quarter of 2024.
- With over $120 billion in user assets on its balance sheet, Binance highlighted its significant financial strength.
- The Binance app has experienced a staggering 6.3 million installations in the past three months, solidifying its leading position in the fintech segment.
During an exclusive briefing with Incrypted, the Binance cryptocurrency exchange shared a concise report on its accomplishments in the first quarter of 2024, shedding light on the broader digital asset industry.
Binance proudly announced that its app surpassed 6.3 million downloads and installations in the past three months, solidifying its position as the most popular software in the fintech sphere.
The exchange further revealed its impressive financial status, with user assets exceeding $120 billion on its balance sheet. Additionally, having resolved its dispute with US authorities, Binance has successfully attracted over 11 million retail users.
Binance emphasized the correlation between growth and market activity, which has resulted in increased trading intensity on the platform. The number of active users has reached its highest levels since mid-2022, indicating a significant resurgence.
Continuing the discussion, Binance highlighted a 26% growth in transaction volume over the past six months. However, there has also been a notable 10% increase in the number of users logging into the system without engaging in any trades during the past month.
“As we enter the second quarter of 2024, crypto assets continue to demonstrate strong momentum, with key industry indicators consistently positive. Notably, we observe sustainable trends in adoption and usage as the market attains greater legitimacy, garnering increased attention from regulators worldwide and widening accessibility for a diverse array of investors,” said Kirill Khomyakov, Binance’s Regional Head for CEE and Central Asia.
It is worth mentioning that Binance recently conducted a coin burn, destroying nearly 2 million BNB tokens worth an astounding $1.17 billion.