Binance Statistics and Facts

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Cryptocurrency exchanges have evolved rapidly over the past decade, with Binance emerging as a dominant force in the digital asset ecosystem. As one of the most influential platforms in the blockchain space, Binance continues to shape trading trends, influence market dynamics, and drive innovation across decentralised finance (DeFi), blockchain infrastructure, and token economics. This article dives deep into key Binance statistics and insights from 2024, offering a comprehensive overview of its market performance, user base, token valuation, and competitive positioning.

Leading Blockchain Networks in 2024

The year 2024 marked significant milestones for major blockchain networks, with Ethereum maintaining its position as the leader in both market capitalization and developer activity. According to industry data, Ethereum held a market cap of $401.5 billion**, far surpassing competitors like **BNB Chain** ($100.9 billion) and Solana** ($91.4 billion). Tron followed with $21.9 billion, while Avalanche and Sui posted $14.6 billion and $12.1 billion respectively.

In terms of trading volume, Ethereum again led the pack with **$20.8 billion** in annual trade volume. BNB and Solana recorded $2.4 billion and $3.3 billion respectively, highlighting their growing but still secondary roles in on-chain trading activity.

Transaction fees revealed another layer of network efficiency. Ethereum’s average fee stood at $4.00 per transaction**, reflecting congestion during peak usage. In contrast, Solana offered ultra-low costs at just **$0.01, making it highly attractive for microtransactions and high-frequency applications. BNB maintained a balanced fee structure at $0.10, combining affordability with reliability.

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Daily transaction volume painted a clear picture of scalability: Solana processed an impressive 56 million daily transactions, dwarfing Ethereum’s 1.2 million and BNB’s 4.1 million. Similarly, Solana led in daily active addresses with 5.8 million, compared to BNB’s 1 million and Ethereum’s 0.4 million.

Staking participation also varied widely. Sui topped the list at 78.2%, followed by Solana (65.7%) and Tron (47.4%). BNB lagged behind at 20.0%, indicating room for growth in its staking ecosystem.

Developer engagement remained strongest on Ethereum, which hosted 6,244 active developers—nearly double Solana’s 3,201. BNB’s developer count stood at 688, underscoring the need for continued ecosystem investment.

Total value locked (TVL) in DeFi further emphasized Ethereum’s dominance at $70.3 billion** (as of October 2023), followed by Solana ($9.4 billion) and Tron ($7.6 billion). BNB captured **$5.7 billion, placing it competitively within the top tier.

Binance Market Share Trends

Binance’s journey through 2024 was defined by resilience and recovery. After a notable dip in market share—from 62% in 2022 to 30% by late 2023—the exchange regained momentum throughout 2024, consistently operating above 40% for much of the year.

Spot trading share initially dropped to 34% in early 2024 but rebounded to over 45% by Q4, reaffirming its leadership despite increased competition. Upbit rose temporarily to 10% in September before stabilizing around 5–6%, while Bybit declined from a high of 13% to 5.2% by year-end.

In the derivatives market, Binance contributed significantly to a total volume of $39.38 trillion—nearly triple the spot volume. The platform remained the largest player, though rivals like OKX expanded their footprint from 15.5% to 19.83% of derivative trading share.

Bitget surged from 8.2% to 12.73%, positioning itself as a strong contender, while MEXC Global saw its share fall from 7.3% to 4.27%.

Globally, centralized exchanges facilitated $54 trillion** in trading volume over the past 12 months, with Binance accounting for approximately **$22.5 trillion—a staggering 41.7% share.

Meanwhile, decentralized exchanges (DEXs) gained traction, recording over $250 billion in monthly volume twice in 2024 (March and June). By October, DEXs represented 13.6% of total spot volume, driven by innovations in liquid staking, cross-chain interoperability, and real-world asset tokenization.

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Binance Coin (BNB) Performance Analysis

BNB solidified its status as one of the most valuable exchange-based tokens in 2024. Starting the period at $200 in October 2023**, BNB surged to an all-time high of **$710 by June 2024, fueled by market optimism, exchange buybacks, and broader adoption across the BNB Chain ecosystem.

Throughout the year, BNB stabilized within the $500–$600 range, demonstrating strong investor confidence despite market volatility. On April 7, 2025, it traded at **$554.48**, slightly below its previous peak of $600 reached in November 2021.

Weekly trading volume for BNB peaked at $41.32 billion** in March 2024—coinciding with Bitcoin’s all-time high—while maintaining an average weekly volume of **$8.57 billion, far exceeding other exchange tokens.

Originally launched as an ERC-20 token on Ethereum in 2017, BNB transitioned to its own blockchain—first known as Binance Smart Chain (BSC), later rebranded to BNB Chain in February 2022. The chain prioritizes speed and scalability, serving as a foundation for thousands of DeFi, GameFi, and NFT projects.

Notable platforms like Alien Worlds and Axie Infinity utilize BNB Chain infrastructure, reinforcing its role in the play-to-earn gaming revolution.

Binance User Base Evolution

Binance experienced explosive growth between 2017 and 2021:

The dip in 2023 is attributed to regulatory scrutiny in key markets, macroeconomic downturns, and rising competition from platforms like Coinbase, OKX, and Bybit.

Despite this adjustment, Binance retained its position as the most widely used cryptocurrency exchange globally, supported by a robust product suite including spot trading, futures, savings products, NFT marketplace, and launchpad offerings.

Cryptocurrency Exchange Volume Comparison

Trading volume remains the most critical metric for evaluating exchange dominance:

This data highlights not only Binance’s overwhelming lead but also the intensifying competition among mid-tier exchanges vying for global market share.

Frequently Asked Questions (FAQ)

What was the trend for Binance’s market share in 2024?

Binance's market share dropped from 62% in 2022 to 30% by late 2023 but recovered to above 40% for most of 2024. It maintained its position as the largest crypto exchange by volume, contributing $22.5 trillion out of $54 trillion in total centralized exchange volume.

Which blockchain had the highest market cap and trading volume in 2024?

Ethereum led with a market capitalization of $401.5 billion and recorded the highest trading volume at $20.8 billion. BNB ranked second in market cap at $100.9 billion but lagged in on-chain trading volume with $2.4 billion.

How do transaction fees compare across major blockchains?

Ethereum charged an average of $4.00 per transaction—the highest among major networks—while Solana offered the lowest at $0.01. BNB charged $0.10 per transaction, balancing cost-efficiency with network security.

How did BNB perform in 2024?

BNB rose from $200 in October 2023 to an all-time high of $710 by June 2024. It stabilized between $500 and $600 afterward and was valued at $554.48 on April 7, 2025.

How many users did Binance have in 2024?

While exact figures for 2024 were not released, Binance had 31 million users in 2022—the highest on record—and saw a slight decline to 29.5 million in 2023 due to regulatory pressures and market conditions.

Why is BNB Chain important?

BNB Chain supports thousands of decentralized applications (dApps), especially in DeFi and GameFi sectors. Its low fees and high throughput make it a preferred choice for developers building scalable blockchain solutions.

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