Founded in 2017 by Cheng Peng Zhao, Binance is the largest cryptocurrency exchange platform by trade volume.

On top of that, Binance has developed its decentralized blockchain network, i.e., the BNB chain, which allows users to create and run decentralized applications.

However, since 2018, the company’s transactions and operations have been closely followed by federal investigations, and eventually, the company’s CEO, Chengpeng Zhao, was found guilty of money laundering charges.

Following this, many US, UK, China, Japan, and Thailand banks restricted their customers from transacting with Binance. However, through the years, Binance has rectified its actions and has heavily invested in user protection and security to build trust.

Recently, the platform claimed to have invested in Zircuit, an Ethereum Layer 2 network developer supposed to provide Binance with sequencer-level security.

But even after all the accusations and charges surrounding it, the platform still holds the position of the largest crypto exchange in the world. From the data we have collected, it can only be deduced that beating its competitors, Binance is growing at a rapid pace.

Check out the most recent data collected on Binance.

A Brief Glimpse of Binance Statistics :

  • Six months into 2024, Binance has reached the mark of 200 million registered users.
  • Binance is at the top of the list of ‘Top 100 Cryptocurrency Exchanges based on 24-hour Trade Volume In the World’.
  • The trade volume market share of Binance is 43.8%, while the cumulative market share of all the other crypto exchanges is 56.2%.
  • Binance’s Annual revenue last recorded in 2022 was $12 billion.
  • To build a full-proof compliance program, Binance invested $213 million. The POR system, launched in 2022 for the sake of funds and the safety of users, now supports 31 tokens.
  • In 2024, Binance introduced a handful of meme coins like $MYRO and $WIF and began DePIN projects to its exchange, like $FIL.

Binance Total Number of Users Worldwide

Binance began its journey in 2017 with a user count of about 1.5 million, which now, after six months into 2024, stands at 200 million registered users. However, the growth rate suffered after the tax offense and money laundering issues in 2019.

This, however, changed in 2022, when the user count saw a boost and the numbers jumped to 128 million.

From 128 million in 2024, it has surged to 200 million, an increase of 72 million users. The platform grew 56%  in new users in just two years.

The studies state that the number of people who installed cryptocurrency exchange in 2024 is 562 million. And this means that 36% of cryptocurrency users worldwide are Binance users.

Year Users
2024 200 million
2023 170 million
2022 128 million
2021 28.6 million
2020 21.5 million
2019 16.5 million
2018 13.3 million
2017 1.5 million

Binance – With the Highest 24-hour Trade Volume

Among all the bigshot crypto exchanges in the world, Binance has the highest number of trade transactions made in 24 hours.

The 24-hour trade volume measures all the symbols traded in a single day but is expressed in currency. 

Leaving all the competitors behind, Binance has topped the charts by recording a transaction amount of $19.38 billion daily. 

Binance Annual Crypto Exchange Volume

In 2023, the company’s prolonged tussle with the US regulatory bodies ended when the brand decided to take responsibility for its past conduct and began investing in compliance programs.

But before that settlement, the brand had already suffered some reputation damage. That’s why the annual crypto exchange volume of Binance dropped from 5.2 trillion to 4.4 trillion in 2023.

Year Crypto Exchange Volume
2023 $4.4 Trillion
2022 $5.2 Trillion
2021 $9.58 Trillion
2020 $1.071 Trillion
2019 $401 Billion
2018 $516 Billion
2016 $59 Billion

Binance Trade Volume Market Share

Numerous crypto exchange platforms operate worldwide, from Coinbase, KuCoin, and BitStamp to Gemini.

However, Binance seems to have taken its place and has an individual market share of 43.8%. On the other hand, when calculated together, the market share of all the different exchanges has a cumulative share of 56.2%.

From this data, it’s evident that Binance holds most of the market share. Within months of its inception, Binance had grown to become the most extensive Cryptocurrency Exchange in the world in terms of trading volume.

It has held that spot since 2017, and from the above data on market share, it can be predicted that even in the future, it will keep wearing the crown of – the most extensive Cryptocurrency Exchange in the world – until and unless the competitors catch up.

Binance Annual Revenue

Since 2022, Binance hasn’t released any new information on the revenue generated in 2023.

But even though the exact amount wasn’t released, the niche experts have predicted the revenue to be more than $12 billion and somewhere around $14 billion. This estimate was made while considering the market conditions of 2023 and the regulatory issues that Binance faced the same year.

However, despite the numerous regulatory challenges, the brand was able to generate significant revenue.

From $12 billion to $14 billion, it might not seem successful. Compared with its best revenue, i.e., of 2021, the calculations show a 30% decrease in revenue generation. But it’s still better than the 2022’s $12 billion revenue.

Revenue is increasing. An upward trend can be seen in Binance’s yearly income. There is a steady increase in numbers.

Year Revenue (Billion $)
2020 5.5
2021 20
2022 12
2023 14 (Estimated)

Binance Profit Over The Years

The updated profit figure is unavailable since the company hasn’t disclosed its profits since 2020.

The last available profit data shows that Binance made around $800 million to $1 Billion in 2020. When calculated, it’s like a 75% jump in profit since the previous year, 2019.

From 2021, the profit figures will not be available. However, by referring to the revenue section, it’s clear that in 2021, Binance generated colossal income, which naturally means that 2021 proved profitable for Binance.

In 2022, the revenue graph shows a downward trend. So it might seem like the company didn’t make any profit. However, Binance claims the company could still churn profits even if the revenue numbers fell.

Lastly, for 2023, the revenue numbers aren’t available. However, based on the estimates made by the niche leaders after considering all the variable market parameters, it can be easily seen that Binance earned better profits in 2023.

Year Net Income
2017 $7.5 Million
2018 $850 Million
2019 $570 Million
2020 $900 Million
2021 No data
2022 No Data
2023 No Data

Binance’s Investments In Compliance Programs

After facing many compliance-related issues, Binance began investing to enhance its security and compliance programs.

In 2022, it launched the Proof-Of-Reserve System, which supports nine tokens. However, since 2023, the token number has been increased to 31.

The proof of reserve system allows users to verify from time to time whether the exchange has enough assets to cover all users’ balances. It makes trading more transparent by updating the users about the exchange platform’s assets.

They can check if the exchange has enough assets to meet all the withdrawal requests.

Moreover, the company invested $213 million in compliance projects alone in 2023, a 35% increase from 2022.

New Initiatives Of Binance

In 2024, Binance introduced a handful of meme coins like $MYRO and $WIF and began DePIN projects to its exchange, like $FIL.

In addition to these, the platform has also ventured into digital asset management in gaming. The brand has launched PORTAL, a cross-chain gaming system that aims to connect blockchain gaming communities.

Its cross-chain structure and Multi-Chain token allow it to connect with games on all network chains and streamline the gaming experience.

Binance has invested in almost 250 projects spanning various sectors like DeFi, GameFi, infrastructure, etc.

Plus, Binance Labs, a venture of Binance, is all set to invest in three projects.

  1. Athena Labs – An entity of the DeFI industry that operates to convert Ethereum’s native currency (ETH) into cryptocurrency native profitable stablecoin.
  2. NFPrompt – An all-rounder platform that allows users to access AI-powered creations, social community features, and many other aspects of commercialization. Using the NFP tokes on this platform, the users can earn platform fees and indulge in voting, contests, and community-driven governance.
  3. Shogun[dot]fi – It’s a platform working to make trading more accessible, transparent, and profitable for users. It mainly focuses on improving the users’ trading experience of decentralized exchanges.

All these investments have been made in 2024. From such recent investments, we can deduce that despite all its struggle with regulatory bodies, Binance is growing in various fields of the crypto world.


Q1. Is Binance secure?

After making headlines about money laundering and tax issues, the platform has taken security measures like establishing SAFU funds, a POR system, withdrawal address allowance, two-factor authentication, and many more. Thus, it can be called a secured platform for crypto exchange.

Q2. What is the current price of Binance Coin? What is its market cap?

The current BNB price is $607.19 per BNB. And the current market cap of the BNB coin is $89.31 billion. But this price fluctuates with the market.

Q3. How many coins are available on Binance?

Binance provides one of the most extended selection lists of alt-coins for exchange. Currently. in 2024, Binance supports the exchange of 386 coins. The list also includes its coin named after the company called Binance Coin.

Q4. What are the trading fees on Binance?

On each trade made, Binance charges a flat fee of 0.1% for regular users. However, for VIP users, the fee percentage changes; for more information on the VIP fee, visit VIP fee rates.

Q5. What measures does Binance take against money laundering?

Currently, Binance ensures security against money laundering with anti-money laundering procedures (AML), which consist of KYC verification, transaction monitoring, and coordination with regulatory bodies.

Q6. In Binance, how are SAFU funds allocated?

Secure Asset Funds for Users, or SAFU funds, are emergency insurance funds established to protect users from security breaches or extreme trading circumstances. Binance established SAFU funds in 2018 as part of its compliance project.

The fund was set up by dedicating 10% of all trading fees. Through the years, the fund grew, and in 2022, Binance announced that the value of SAFU funds now stands at 1 billion.

In 2023, Binance converted 1 billion SAFU funds into USDC (USD coin) to ensure users’ stability despite market fluctuations.

Q7.  How Often Does Binance List New Coins?

Binance regularly lists new coins, adding several tokens each month. In June 2024 alone, it introduced 16 new tokens, showing its proactive expansion of offerings​ 

The listing process involves application, evaluation, internal discussions, and sometimes a preliminary listing in the Innovation Zone, ensuring tokens meet Binance’s security, liquidity, and compliance standards​