Binance has continued to make progress despite facing various challenges along the way. In a recent tweet, Changpeng Zhao, CEO of Binance, announced an impressive milestone of reaching 150 million registered users for the cryptocurrency exchange.
The recent data came to light just a day after Binance faced accusations of operating within China. The Wall Street Journal’s report highlighted that users had conducted trades amounting to $90 billion in crypto-related assets in China during a single month in May.
This information was sourced from an internal platform at the exchange known as “Mission Control.” Nonetheless, the company verified that the Binance.com website is indeed restricted in China and not accessible to users based in China. According to data from SimilarWeb Binance predominantly garnered its traffic from countries such as Turkey, Vietnam, Russia, Argentina, and India.
As per Chinese journalist Colin Wu, the exchange had 120 million registered users in July 2022. Recent data indicate a remarkable increase of 30 million users within one year. This growth is unexpected, especially considering the challenging conditions of the bear market experienced during the same period last year.
Also Read: Binance ‘Inaccessible’ in China Despite $90 Billion Business Claims
Binance continues to reign the crypto market
Presently, Binance’s daily trading volume amounts to $7,105,222,583. It offers a wide range of assets, encompassing 364 coins and 1389 trading pairs, as reported by CoinGecko. The exchange receives an impressive monthly visit count of 55.4 million. In contrast, Coinbase, the second largest crypto exchange based in the U.S., exhibits a significant disparity with a daily volume of $1,020,533,282 and a relatively lower monthly visit count of 30.1 million.
Also Read: Crypto Volume on Binance, Coinbase Dips 50%-70%