The use of the encoded currency of payments has witnessed significant growth, as shown by the Binance Pay user base in 2024.
According to the data provided by Binance and its analysis by Cryptoquant, the number of Binance Pay users has doubled three times from the previous year, reaching 41.7 million. This rapid adoption highlights the increasing role of encryption in daily transactions.
Stablecoins leads the charge
The total volume of treated treatment through the Binance wages in 2024 amounted to $ 72.4 billion, a report He found. This is a noticeable increase of $ 2.5 billion in 2021.
Stablecoins, especially Tether (USDT), has dominated Binance payment transactions because it represents 80 % of the total payment volume, which amounts to $ 57 billion. She followed the highest coding assets such as Bitcoin (BTC), ETHEREUM (ETH) and Binance Coin (BNB) followed, as it contributed 6.6 billion dollars, $ 2.4 billion, 2.2 billion dollars, respectively, represents 9 %, 3 % and 3 % of Total treatment value.
Other famous Stablecoin, USDC, showed remarkable growth on an annual basis, with a 1,338 % increase in the number of transactions and 48 % in the volume of transactions.
The wider market trends indicate high symbolic transactions high frequency on Binance salaries, with SOLA (SOL) that leads to an increase. In fact, Cryptoquant found that Sol payments amounted to $ 724 million in 2024 and represented an increase of 656 % on an annual basis. During the same period, Bitcoin transactions increased by 73 % to $ 6.6 billion, while ETHEREUM payments increased by 69 % to $ 2.4 billion. USDC and BNB also recorded a remarkable growth, increasing 48 % and 29 %, respectively.
Payment Binance ‘The expansion of S with the total growth of the encryption market and the increasing role in Binance in facilitating transactions. This trend is valid more by a significant rise in the Binance Cryptocurrency reserves. The value of the US dollar for Bitcoin, ETHEREUM, USDT, and USDC exceeded $ 100 billion in 2024, which represents a 137 % increase over the beginning of the year when the reserves amounted to $ 43 billion.
The increasing use of Binance wages reflects a larger global trend as the ownership of the cryptocurrency continues to rise.
Encouragement of encryption
The ownership of the global cryptocurrency witnessed a 13 % increase in 2024, as it increased from 583 million in January to 659 million in December, according to a report By crypto.com. Bitcoin’s ownership grew by 13.1 %, reaching 337 million users and holding more than 51 % of all encryption owners. Ethereum saw 13.6 %, as its owners increased from 125 million to 142 million, and represented 21.7 % of global ownership.
In addition, it may be between 300,000 and 1.2 million people who have invested in BTC through the boxes circulating on the American Stock Exchange (ETFS). Institutional and supportive interest Policies From the US President -elect, Donald Trump was major factors that drive BTC’s adoption. The report noted that ETHEREUM LAYER 2 was nourished by the Dencun and ETHEREUM ETFS, which contributed to increasing investor participation.
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