#Binance250Million

Binance has cemented its position as the leading crypto exchange by reporting customer deposits totaling $21.6 billion in 2024, according to a Dec. 12 report.

This achievement places Binance significantly ahead of its competition, with data from DeFi Llama revealing that the exchange’s deposits surpass the combined total of the next ten largest exchanges tracked by 36%. Competitors—including OKX, Bitfinex, Robinhood, and Bybit—collectively reported $15.9 billion in deposits for the same period.

Binance attributed its dominance to initiatives like the Binance Launchpool, which has been instrumental in attracting and retaining funds on the platform. Broader market trends, including a surge in Bitcoin and Tether’s USDT deposits, have also fueled the exchange’s growth