Binance Tops Bitcoin Reserves at 40%, Adds $8.73B in 2024

• Binance leads with 40% Bitcoin reserve share amid growing trust and market demand.
• Bitcoin nears $100K, boosting institutional adoption and Binance’s market leadership.
• Regulatory scrutiny fails to slow Binance’s growth as crypto adoption accelerates.

The crypto market has seen a shift in power, with Binance emerging as a dominant player in the global exchange network.

Despite challenges like regulatory scrutiny and market volatility, Binance has solidified its position, capturing an increasing share of the Bitcoin reserve market among Proof-of-Reserve (PoR) exchanges.

Binance’s Bitcoin Reserve Market Share Grows Since 2017

Data from CryptoQuant founder Ki Young Ju highlights Binance’s growth from mid-2017 to late 2024. Starting with a small share in 2017, Binance expanded rapidly, reaching about 10% of the market share by early 2018.

After a decline phase from 2018 to 2020, the exchange began to increase its dominance in 2021, coinciding with a surge in global crypto-asset adoption.

From mid-2021 onward, Binance’s market share steadily climbed, surpassing 40% in 2024. This growth reflects its ability to attract users through…

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