With the cryptocurrency market resurging from the overwhelming downturns it witnessed in previous years, 2024 has not only seen crypto prices soar to new heights, but its trading platforms are also witnessing a surge in userbases.
The world’s largest cryptocurrency exchange by trading volume, Binance, has just announced a record of 200 million registered users from all around the globe.
Binance at 200 Million Users
The exchange took to its official X page on June 8, 2024, to unveil this achievement and express gratitude to its users.
Today, we celebrate 200 million – and it's all because of YOU!
Your support is the heartbeat of our journey to 1 billion users.
Here's to the stars of our story – you!#Binance200M #Binancian #Binance pic.twitter.com/3cWTEHxg7j
— Binance (@binance) June 8, 2024
This marks a remarkable milestone for the famous crypto firm, suggesting that enthusiasts are onboarding the exchange in preparation for the emerging bull run.
Launched by crypto veteran Changpeng Zhao in 2017, Binance has always retained its lead over other exchanges in trading volume. Thus, its latest achievement of amassing 200 million users further fortifies its power over competitors in cryptocurrency trading.
Data provided by CoinMarketCap shows that Binance outscores notable exchanges like Coinbase, OKX, Bybit, and the rest, with a daily spot trading volume of over $18 billion. Bybit and OKX rank next with $4.74 billion and $3.80 billion, respectively.
Nigerians Hops on Binance Despite P2P Halt
Despite the recent legal saga between the Binance team and the Nigerian government, which caused the exchange to terminate P2P services for Nigerian users, residents of the country have continued to register with the platform.
This continuous onboarding among Nigerian crypto users and enthusiasts is attributable to a recent development from TapSwap, a memecoin project that has gained significant prominence in the country.
The gamified project recently added a new task that required users to add a Binance User Identification (Binance UID) for verification purposes. This new task, which promised rewards, saw its users flood Binance to register an account with the exchange.
