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Binance Revenue and Usage Statistics (2021)

Binance is one of the most significant cryptocurrency exchanges that consists of $7.7 trillion cryptocurrency exchanges in 2021—established in 2017 by Changpeng Zhao. 

The cryptocurrency exchange company was launched in Hong Kong and immediately surpassed the then-leading exchanges. However, Binance received setbacks due to the severe restriction and regulations that forced them to change tact by moving to Malta. 

Ever since, Binance has been one of the most prominent picks for alt-coins accessible in its exchange. Similarly, they’ve managed to launch their coin—graded as the fifth most treasured in the market behind giants like Bitcoin, Ethereum, USD Tether, and Cardano.

Additionally, Binance has established multiple security tools positioned to improve and develop trust in cryptocurrency. They include Binance Smart Chain, which specialises in staked authority to ensure proper validation of transactions.

However, the growth of this cryptocurrency exchange hasn’t been a smooth ride. It has been affected by interference by the UK and the US in their investigation of money laundering and many tax offences, leading to many banks deterring their customers from sending cash to Binance. The ban is implemented in countries such as Thailand, China, and Japan. 

Nevertheless, Binance continues to be the giant cryptocurrency exchange by a wide range as exchanges like Coinbase cannot keep up even with their many active users. Read on to find more interesting facts about Binance.  

Binance Key Statistics

  • Binance experienced profits ranging between $800 million to $1 billion in 2020
  • It’s estimated that as of October 2021, Binance had 28.6 million users
  • The yearly Binance spot trading of 2021 has surpassed that of 2020
  • Binance highest 24-hour trading magnitude is $76 billion

Binance Overview

Launch date 3 September 2017
HQ Cayman Islands
People Changpeng Zhao (CEO, founder) 
Business type Private
Industry Cryptocurrency

Binance Profit

Year Net income
2017 $7.5 million
2018 $850 million
2019 $570 million
2020 $900 million

 

Binance Users

Year Users
2017 1.5 million
2018 13.3 million
2019 16.5 million
2020 21.5 million
2021 28.6 million

Binance Peak Trading Volume

Year Peak trading volume (24 hours)
2017 $3 billion
2018 $19 billion
2019 $15 billion
2020 $35 billion
2021 $76 billion

Binance Annual Crypto Exchange Volume

Year Annual exchange volume
2017 $59 billion
2018 $516 billion
2019 $401 billion
2020 $1.07 trillion
2021 $7.7 trillion

Binance FAQ

1. What Percentage Of Binance Users Are Hobbyists?

As per the Binance research, you can only associate 24% of Binance users as Hobbyists. On the other hand, 15% of regular Binance users identified it as their primary source of income.

2. How Many Binance Users Own Bitcoin?

65% of Finance users are said to be owning Bitcoin, while a majority of them assign 1%-20% of their crypto portfolio to the exchange. 

3. What Are The Demographics On Binance?

Above 90% of Binance users are male of an average age of 35 years old.

4. What Is The Market Cap Of Binance Coins?

As of October 2021, Bitcoin had a market capitalisation of $70 Billion. Moreover, 168 million of their coins are presently in circulation.

5. How Many Coins Are Available On Binance?

Binance has had 337 coins accessible since  October 2021

 

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