According to a report on November 13, Binance stated that they had seen a flow of 7 billion USD into the platform after Donald Trump was elected U.S. President.
Since the November 5 election, when former President Donald Trump won, data from DeFiLlama shows that the inflow of funds to Binance has exceeded 7 billion USD. This figure is significantly higher than its closest competitor, OKX, which recorded only around 1 billion USD during the same period.
This surge in growth has increased the total user assets on Binance to 140 billion USD, the highest level since the exchange began publishing its Proof of Reserves two years ago.
Data from CryptoQuant also indicates that Binance’s reserve ratio across the industry has risen to 25%, reflecting its share of reserves compared to other exchanges. Currently, only Coinbase has a higher reserve ratio at 33%.
If Binance continues to maintain this growth, it could soon compete with Coinbase for the top position in terms of reserves.
Binance also reported a significant increase in user engagement following the U.S. presidential election. On November 6, Binance reported 13 million app visits, showing a strong user interest post-election.
Binance explained that this growth was due to its solid position as a leading trading platform amid rising demand for digital
Additionally, the high level of activity reflects the overall market trend, with Bitcoin and Ethereum prices rising by about 20% and 30%, respectively, reaching new peaks. Experts believe this surge stemmed
Binance CEO Richard Teng shared that the milestones achieved reflect the growing acceptance of digital assets in society. He also emphasized that discussions about cryptocurrencies during the U.S. election highlighted the increasing importance of this sector to the global economy.
Teng stated: “We are truly witnessing the golden age of cryptocurrency, where its potential is being realize
Under the leadership of Changpeng Zhao and Richard Teng, Binance has become the world’s largest cryptocurrency exchange, holding ov.
