Binance’s user base surpasses 150 million

Binance chief executive Changpeng Zhao said the platform has surpassed 150 million users.

He also noted the official launch of the Japanese subsidiary, obtaining operational license in Dubai and adding the SEI and CYBER tokens to the farming pool.

In July 2022, Binance’s user count достигало 120 млн — over the year, inflow amounted to 30 million people.

According to Similarweb, the platform’s five main traffic sources over the last three months were Turkey, Vietnam, Russia, Argentina, and India.

According to The Block Research, in July 2023 Binance’s trading volume accounted for almost half of the total across centralized exchanges — $209 billion of $489 billion.

Last month the platform’s market share slipped slightly — to 58%. By early August, preliminary data showed it had recovered to 64%.

Earlier, The WSJ reported that the volume of trades by Chinese traders on Binance in May 2023 reached $90 billion. China accounted for about 20% of the exchange’s total turnover.

In August, reports indicated that the US Department of Justice was preparing to bring charges against the company for alleged fraud. However, authorities fear a mass exodus of users.