Binance Hits Record Highs: Users Hold $130B In Crypto In A Single Day

Following the 2024 U.S. presidential election, Binance reached a new milestone, with users holding over $130 billion in crypto in just one day. The exchange saw its highest Exchange Reserve Percentage at 25% and recorded 13 million app visits, reflecting the growing adoption of digital assets amid a favorable crypto market.

In the wake of the 2024 U.S. presidential election results, Binance achieved unprecedented numbers, solidifying its position as a global crypto leader. On November 6, Binance registered over 13 million visits on its app and saw users hold over $130 billion in crypto assets on the platform, marking an all-time high. According to DefiLlama, these holdings continued to grow, reaching $141.74 billion within the next 24 hours.

CryptoQuant reports that Binance’s Exchange Reserve Percentage reached a record 25%, up 4% year-over-year, showing the platform’s capacity to manage significant asset inflows. Only Coinbase surpasses Binance in this metric, with a 33% reserve.

In parallel, Binance recorded high BTC withdrawals, with users withdrawing 9,773 BTC. Comparatively, other major exchanges saw much smaller withdrawal volumes: Coinbase Pro at 440 BTC, Bitfinex at 1,242 BTC, and Gemini at 1,799 BTC. Binance’s CEO, Richard Teng, commented on these milestones, saying:

“This period of consecutive all-time highs, billion-dollar inflows on Binance, and the increase in our reserve percentage highlights the strength and resilience of Binance, chosen by nearly 240M users. It also reflects the growing acceptance and growth of digital assets within the global financial landscape…We are truly witnessing the golden era of cryptocurrencies, where their potential is being realized and embraced globally.”

Adding to the excitement, Bitcoin’s (BTC) price soared following Trump’s election win. The cryptocurrency reached a new all-time high, approaching $90,000, marking a 10.95% increase within 24 hours. Over the past seven days, BTC rose by an impressive 30%, lifting the overall crypto market. At present, Bitcoin’s market capitalization stands at $1.770 trillion.

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