Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Binance is the largest cryptocurrency exchange in the world by trading volume, and Binance.US is one of the largest in the United States.
And Binance's decentralized network – the BNB Chain – is one of the most used blockchains in the world.
In this report, you'll find visualized data on Binance's user base as well as trading volume on Binance and Binance.US. We'll also present visualized data on transactions, total value locked (TVL) and unique addresses on the BNB Chain.
In January 2023, Binance hosted 55% of global crypto spot trading
As of 2022, Binance had 128 million registered users on the platform
Peak 24-hour trading volume on Binance hit US$147.6 billion in 2021 but declined in subsequent years
In 2021, the BNB Chain experienced a peak in 24-hour transaction volume at US$16.26 billion
In 2021, the BNB Chain also experienced a peak TVL at US$21.82 billion
While the amount of unique addresses on the BNB Chain continues to increase slowly and steadily, the amount of daily active users on the chain peaked in November 2021
On May 10, 2021, Binance Coin – the BNB token – reached its all-time high of US$686.31
Binance burned approximately 2.06 billion of Binance Coin (BNB) in Q4 2022, and over 20% of the initial supply of Binance Coin has been burned since the asset came to market
By the end of 2022, Binance had 128 million registered users. Its biggest competitor, Coinbase, had 108 million registered users.
While there isn't a lot of public data around Binance users on a country-by-country basis, we can get some idea of how popular Binance is in certain regions by looking at where the exchange sponsors the most in-person and online meet-ups.
Binance sponsored 213 meet-ups in Africa last year (not including some North African countries), while it only sponsored 102 across all of the Americas.
Binance trading volume
Binance saw its highest peak in 24-hour trading volume in 2021 when it hit US$147.6 billion.
This was over a 400% increase in peak 24-hour trading volume 2020 when it hit US$35.13 billion.
Peak 24-hour trading volume has been in decline since 2021 though as it only hit US$94.75 in 2022 and US$64.58 in 2023.
On 17 February 2023, 24-hour trading volume on Binance hit US$27.99 billion. It only hit a small fraction of that number – US$2.05 billion – on competitor exchange Coinbase.
However, on the same date, the 24-hour trading volume on Coinbase – the largest exchange in the United States by trading volume – was over 5 times that of
Binance.US, the US subsidiary of Binance.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
Frank Corva is a cryptocurrency writer and analyst for digital assets at Finder. Frank has turned his hobby of studying and writing about crypto into a career with a mission of educating the world about this burgeoning sector of finance. He worked in Ghana and Venezuela before earning a degree in applied linguistics at Teachers College, Columbia University. He taught writing and entertainment business courses in Japan and worked with UNICEF in Nambia before returning to the States to teach at universities in New York City. He spent years as a publicist and graphic designer in the music industry, working for record labels like Warner Music Group and Triple Crown Records, and he's also a former music journalist whose writing and photography has been in published in Alternative Press, Spin and other outlets.
Finder created an interest in crypto score based on search interest for cryptocurrencies combined with crypto infrastructure for each state. California has the highest interest in cryptocurrency in the United States.
How likely would you be to recommend finder to a friend or colleague?
Very UnlikelyExtremely Likely
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.