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Mind-Blowing Binance Statistics and Facts for 2023
10 Essential Binance Statistics for 2023
Binance is still the biggest crypto exchange in the world.
BUSD exceeded $17 billion in market capitalization during the first half of 2023.
Binance’s revenue amounted to around $20 billion in 2021.
Binance Labs has set aside $500 million for Web3 and Blockchain projects.
Ending June 2023, BNB Smart Chain’s TVL dominance equaled 8.66%.
The Binance.us number of users was 2.5 million in August 2023.
14 out of 25 most played NFT games use the Binance Smart Chain.
Binance has the largest NFT marketplace in the world.
Binance burned 1,959,595.29 BNB in its latest quarterly burn.
Binance’s CEO has a net worth of $18.5 billion.
Binance Statistics: The Exchange You Have to Know About
Binance is still the biggest crypto exchange in the world.
Binance’s daily volume is more than three times higher than that of Deepcoin, the following exchange on the list at the time of writing. Binance’s trading volume amounted to over $15.24 billion on August 18, 2023 when the data was obtained, while Deepcoin followed with $6.5 billion. CITEX, XT.COM, BitCoke came afterwards. When it comes to the Coinbase vs Binance volume comparison, Coinbase had over $2 billion in volume at the time of measurement, almost eight times less.
(Statista)
Binance burned 1,959,595.29 BNB in its latest quarterly burn.
Binance will burn a number of BNB coins every quarter until it removes 100 million BNB from circulation. During this third quarterly burn, Binance removed the $444,632,106 worth of BNB cryptocurrency from circulation. The intent behind reducing the supply of BNB coins is to make them more scarce and consequently more valuable.
(Binance)
BUSD exceeded $17 billion in market capitalization during the first half of 2023.
The USD-pegged stablecoin (100% by cash and cash equivalents) increased over 22% during the first half of the year. While this is good news for BUSD, Tether’s USDT dropped over 15% at the same time, showing the vulnerability of stablecoins. Still, Binance claims that stablecoins are still a significant category that can link everyday payments and other applications with cryptocurrencies, as well as push boundaries in the crypto world.
(Binance)
Binance’s revenue amounted to around $20 billion in 2021.
According to Bloomberg’s calculations, the company brought in an astounding $20 billion in revenue last year, mostly from transaction fees. One of the reasons the company amassed so much is late 2021’s crypto craze, which brought investor interest to a rarely seen high.
Binance’s CEO has a net worth of $18.5 billion.
With $18.5 billion, the founder and CEO of Binance Changpeng Zhao is the richest person in the crypto industry and the 80th richest person in the world. Even though the crypto market fell and his net worth also took a plunge from $108 billion to $18.5, this entrepreneur is still leading the industry.
(Business Insider)
Binance Labs has set aside $500 million for Web3 and Blockchain projects.
Binance’s trustworthiness and the high amount of protocols it’s running could position it as one of the key players in the world of Web3. It’s no surprise then that its investment branch decided to help bring about Web 3.0 and explore and expand potential uses of blockchain technology.
(Binance)
Binance US volume was estimated at $0.38 billion in August 2023.
While the trading volume on every exchange varies from one day to the next, on August 18, 2023, when the data was collected for various exchanges, Binance.US had about $380 million in daily volume. This placed it above Bybit and FTX with $0.31 billion in daily volume each.
(Coingecko)
Binance has the largest NFT marketplace in the world.
Binance NFT is the world’s largest NFT marketplace and a significant hub for the budding industry. It has over 300,000 participants and 48 million staked, while its top 10 collections have seen over $80 million in all-time trade volume.
(Binance, BSC)
BNB Chain Statistics
14 out of 25 most played NFT games use the Binance Smart Chain.
Games that allow users to purchase game items in the form of NFTs can rely on one or several different blockchains for this part of the in-game economy. BNB Smart Chain statistics show that due to its security and accessible transaction fees, BSC is the most popular blockchain among 25 of the most played games. The other blockchains used by these NFT games include Ethereum, WAX, Polygon, and Harmony.
(Statista)
Binance’s chain has the second highest number of GameFi projects.
The first chain is none other than Ethereum, which held more than half of the GameFi market share in July 2021. However, during the year, new chains with new advantages started participating in this budding market. By June 2023, Ethereum’s GameFi market share had declined to about 35%, while Binance and other chains like Tron took over. Binance Smart Chain statistics show the chain has close to 31% market share in GameFi as of June 2023.
(Binance)
BNB Chain stats show it supports more than 400 protocols.
The number of protocols running on each chain can help illustrate the chain’s activity and development. The oldest DeFi chain, Ethereum, hosts over 500 protocols. BNB Chain comes in second place with over 400, while Avalanche supports about 225 protocols at the time. There are about 70 protocols on Solana and only nine on Tron.
(Binance)
Ending June 2023, BNB Smart Chain’s TVL dominance equaled 8.66%.
During 2021, BNB’s Smart Chain experienced incredible growth in TVL dominance, which is comparable to increasing market share in other industries. The chain started 2021 with 0.78% and ended the year with 7.02%. In fact, it has shown resilience and stability throughout the year and into 2023 when it grew further to 8.66% after absorbing TVL as a result of Terra’s crash.
(Binance)
Binance Users: Statistics for 2023
Binance’s number of users was 89.5 million in August 2023.
High security, speed, and transaction fees lower than $0.10 made Binance the largest crypto exchange in the world. When it comes to the users’ gender ratio, 72% of users identified as men, whereas 28% of users identified as women. The 25–34 age group visited Binance.com the most.
(SimilarWeb)
There were more than 279,500 new unique addresses per day on the BNB Chain at the end of August 2023.
Binance’s chain is gaining new users at an astonishing speed. Compared to the previous year, when the number was at 198,000 daily new addresses, this represents a 41.2% increase.
(YCharts)
The number of Binance active users was around 877,682 addresses per day in late August 2023.
Data for the BNB Chain shows that the chain is used by 877,682 addresses per day as of the end of August 2023. As the number of daily users fluctuates, these Binance statistics should be taken as an illustration of activity on the chain. Compared to the same time in 2021, when the chain saw over 1 million active addresses per day, this is a 14% decrease.
(YCharts)
Looking at the share of Binance users by country, Russia takes the lead.
Although there is a significant decrease in traffic, most traffic to Binance.com comes from Russia, with a share of 6.26% in August 2023. Russia is on par with Turkey, which has an equal share of visitors. One of the most interesting changes in Binance’s visitors by country shows up in Argentina which comes in second place.
Namely, Binance user statistics show the number of Argentinian visitors grew by 22% compared to the previous measurement. One of the reasons for this is the astronomical inflation rate in the country, which has driven users to perceive cryptocurrency as the more stable investment and savings option.
(SimilarWeb)
The Binance.us number of users was 2.5 million in August 2023.
In the previous three months, stats show a decrease in the number of monthly users in the US. In May, 2.9 million visitors came to Binance.us, dropping to 2.6 million in June. When it comes to age and gender distribution of US users, 78% of them were male, while 22% of users identified as female. Users between 25 and 34 were the most represented age group, with 32% of traffic.
(SimilarWeb)
Binance Statistics FAQ
How many users are there on Binance?
There are about 90 million Binance users around the world according to the data from the official Binance website.
Which country uses Binance the most?
Russia and Turkey use Binance the most. Traffic from both countries represented 6.26% of Binance’s traffic in August 2023. They were followed by Argentina, which is currently the country with the fastest-growing number of Binance users.
Is Binance the most popular exchange?
If we look at volume, the answer is yes. Binance is the exchange with the highest trading volume in the world, an incredible range of features, and famously low fees. It’s also a leader in the NFT gaming world, being one of the most popular choices among gamers.
How does Binance make money?
Binance makes money from fees which represent the bulk of the platform’s revenue. It also earns from interest on loans, fees on exchanges, transactions, futures trading, and other types of payments and investments. Fees depend on the status of the holder and the type of transaction, although they are notoriously low compared to other exchanges.
How much is Binance worth?
According to calculations by Bloomberg, Binance’s revenue was around $20 billion in 2021.
Although 2023 brought numerous challenges to the crypto market, Binance is still one of the leaders in the global crypto market.
Conclusion
Binance and its cryptocurrency BNB have had a successful year despite the reduction in the crypto market. It remained the exchange with the highest daily volume, it changed the way entire countries approach crypto, as is the case with Argentina, and its coin held its place as the world’s third most expensive cryptocurrency. Binance statistics point to the growing number of users and protocols on the BNB blockchain. Finally, it earned more market share in the GameFi sector, coming dangerously close to Ethereum.
Sources:
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