Binance continues to pump the numbers, adding more in the last month than nearly all its competitors combined.
Binance Grows $16B in January
Is Binance finally back to Pre-FTX levels of assets? It sure looks like it after $16 Billion has flowed back into the exchange in the past month.
With over $67 billion in assets on its platform, Binance is far and away the largest exchange in the world, according to data available on DefiLlama. In fact, Binance has more assets than the rest of the field combined! No other exchange even pushed over $1 billion.
A well-timed tweet from @pronewchaos helped overcome the recent FUD surrounding Binance, even receiving a reply from Binance’s CEO Changpeng Zhao (CZ). CZ noted how trust in Binance likely played a role in the growth.
The January bull rally, which saw Bitcoin return to prices not experienced since before the FTX collapse in the Fall of 2022, was driven by Binance based on pure numbers. the centralized exchange outperformed every other Centralized Exchange (CEX)––and it was not even close.
So much for a return to self-custody.
The data shown by DefiLlama also does not include the data from all CEXes. The list notably omits the tallies for two large exchanges––Kraken and Coinbase––which have not published lists of cold and hot wallets to calculate and track. Coinbase likely would rank second for several reasons, and Kraken would be in the top 10.
What is Binance:
Binance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.
Where to find Binance:
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