Key Points
- Binance’s CEO Richard Teng announced that the exchange’s all-time trade volume surpassed $100 trillion.
- Today’s trade volume on Binance is over $13 billion.
Binance’s CEO, Richard Teng, announced an important milestone for the crypto exchange. In a post on X today, September 24, he announced that the all-time trade volume on Binance surpassed $100 trillion.
Teng highlighted that through the highs and lows, Binance continues to build because its users deserve the best. He also offered his gratitude to all users for their trust and support.
Binance’s Trade Volume Trajectory in 2024
Binance’s trade volume recorded ups and downs in 2024, just like the crypto market recorded intense volatility this year.
But, haters were proved wrong as Bitcoin seems to be ending the historical bearish September on a bullish note. More than that, the digital asset could record a new ATH in Q4 2024.
Binance’s trajectory also shows that hard work and trust pay off – this is the reason why the exchange recorded over $1 trillion in its all-time trade volume.
In 2024, Binance recorded its ATH day in terms of trade volume on March 6 when the exchange hit a daily trading volume of over $73 billion. The second day in terms of trade volume this year was March 15, when Binance recorded over $63 billion in trade volume.
The fluctuations in the exchange’s trade volume continued in 2024 with ups and downs, just like Teng said, with an average daily trade volume close to $20 billion.
Binance’s most recent spike in terms of daily trade volume was on August 5, 2024, when the crypto market saw its most significant recent decline. For this reason, August 5 was called the Black Crypto Monday.
Today, September 24, the exchange’s trade volume is over $13 billion, according to official data from CoinGecko.
Official data shows that Binance was the largest CEX in June 2024 with a spot trading volume of $424.7 billion (its yearly low) and a market share of 44%.
The second spot was occupied by Bybit with a 12.2% market share and almost $75 billion in spot trading volume.
Overall, the high trade volume that Binance recorded since its launch back in 2017 is due to high user activity which translates into significant user trust.
Changpeng Zhao founded Binance in 2017, and ever since, the exchange which allows the trading of over 350 digital assets managed to surpass 200 million registered users globally in June.
This week is crucial for Binance and the crypto industry, as CZ will be finally released from prison on September 29.
