According to Richard Teng's tweet on January 11, 2025, Binance reported a significant growth in 2024, reaching 250 million users and achieving record trading volumes. The annual report highlights the platform's increased focus on security and compliance, contributing to its robust user growth and market positioning. The report, published on Binance's website, detailed metrics such as daily active users, which surged to new highs, and the number of transactions processed, which reached unprecedented levels.

The trading volumes on Binance saw a marked increase across multiple trading pairs. Bitcoin to USD (BTC/USD) pair, for instance, experienced a 30% rise in trading volume from Q1 to Q4 2024, according to Binance's annual report. Similarly, the Ethereum to USD (ETH/USD) pair showed a 25% increase in trading activity over the same period. These trading activities were supported by enhanced liquidity and market depth, which Binance reports as an ongoing strategic focus.

Technical indicators reflect Binance's strong market performance. The Relative Strength Index (RSI) for Binance Coin (BNB) indicated bullish momentum throughout most of 2024, aligning with the overall crypto market trends. On-chain metrics further supported this growth narrative, with Binance's report showing a 40% increase in on-chain transaction volume, as of December 31, 2024. The report also emphasized the role of strategic partnerships in driving these metrics, pointing to collaborations that have expanded Binance's reach within traditional finance sectors.