Binance leads cryptocurrency exchanges with the highest Bitcoin deposits in 2024
In 2024, the average deposits of $BTC Bitcoin and USDT on cryptocurrency exchanges have experienced remarkable growth, reflecting an increase in demand for digital assets by institutional investors.
According to a report from December 3rd by CryptoQuant, Binance led the market with an average daily Bitcoin deposit that grew by 2.77 $BTC throughout the year. This performance significantly outperformed other competitors such as Kraken and Coinbase, whose daily deposits averaged 0.56 BTC and 0.41 BTC, respectively.
Overall, data from exchanges shows a significant increase in average Bitcoin deposits, rising from 0.36 $BTC in 2023 to 1.65 BTC in 2024. On the other hand, USDT deposits also increased, rising from USD 19,600 to USD 230,000, confirming greater participation from institutional investors and market makers.
An important record for Binance was registered on November 3rd, with a daily deposit of 6.85 BTC, equivalent to USD 465,000, almost ten times more than previous levels. In addition, the exchange reached a peak in daily USDT deposits of USD 303,000, marking the highest level since March 2022.
The CEO of Binance, Richard Teng, highlighted in September that the number of corporate clients on the platform grew by 40% in 2024, according to data from CNBC.
Factors driving cryptocurrency adoption
The growing interest in digital assets is also related to events such as the re-election of Donald Trump in the United States, whose administration promises clearer and more favorable regulations for cryptocurrencies. During his campaign, Trump proposed changes to the Securities and Exchange Commission, as well as the creation of a strategic reserve of Bitcoin in the country.
