users hold $130 billion in crypto

Binance recorded record numbers after the USA 2024 presidential elections: in just one day, inflows exceeded 130 billion dollars in crypto on the platform. Not only that, the crypto-exchange recorded its all-time high Exchange Reserve Percentage, reaching 25%. 

Binance record: in one day, users hold over 130 billion dollars in crypto

After the presidential elections, Binance recorded truly record-breaking numbers. Specifically, on Wednesday, November 6, the crypto-exchange recorded over 13 million visits on the app in a single day.

On that same day, then, came the record for the highest number of crypto held by users on Binance, well over 130 billion dollars. 

As DefiLlama points out, this figure has risen in the last 24 hours to 141.74 billion dollars.

According to what is reported on CryptoQuant, another growth data point for Binance refers to the Exchange Reserve Percentage, the metric that shows the percentage of reserves held on Binance compared to all the reserves of the crypto-exchange.

Precisely this data, Binance has reached its all-time high of 25%, increasing by +4% in the last year. Only Coinbase surpasses this data, with a 33% reserve held. 

Between November 6 and 7, then, Binance also recorded record withdrawals in Bitcoin, amounting to 9,773 BTC. Staggering numbers considering that in those 24 hours, Coinbase Pro saw withdrawals of 440 BTC, Bitfinex 1,242 BTC, and Gemini 1,799 BTC.

Binance: the record numbers and the all-time highs

In this regard, Richard Teng, CEO of Binance, commented on the record numbers of the platform as follows:

“This period of consecutive all-time highs, billion-dollar inflows on Binance, and the increase in our reserve percentage highlights the strength and resilience of Binance, chosen by nearly 240M users. It also reflects the growing acceptance and growth of digital assets within the global financial landscape. The increase in discussions about cryptocurrencies during major political events, such as the U.S. presidential elections, also highlights the increasingly central role of cryptocurrencies in shaping the future of finance and politics. We are truly witnessing the golden era of cryptocurrencies, where their potential is being realized and embraced globally”

In fact, in addition to the victory of Donald Trump as the pro-crypto President of the USA, these days have also marked the new all-time high prices of Bitcoin (BTC) and other crypto. 

BTC Price: nearing $90,000

There is euphoria in the crypto market, after Bitcoin (BTC) surpassed its previous All-Time High or historical maximum of March 2024 over $73,000.

In fact, right after Trump’s victory in the 2024 Presidential elections, BTC started its bull run in price, pulling the rest of the crypto market into the green. 

At the time of writing, BTC is worth $89,806, already in a new ATH. In the last 24 hours, the price of BTC has risen by +10.95%. Not only that, by expanding the chart, in the last 7 days, the price of BTC has risen by +30%.

The market cap of BTC continues to rise as well. At the time of writing, the total capitalization of BTC is 1.770 billion dollars.