Binance is on track for a record-breaking number of new users on any cryptocurrency exchange platform. This spike has been tied to the recently concluded third halving on the Bitcoin network.
Even though it is only three years old, Binance is one of the world’s largest crypto platforms. In 2018, it recorded almost 7 million new users within a period of 100 days.
Unlike its competitors, Binance opens its doors to users from all over the world, with an easy registration process. As more governments accept crypto as a legitimate medium of exchange, eager users jump on the opportunity to become a part of the crypto sector. For many, Binance is the answer.
According to Binance CEO Changpeng Zhao, the platform is welcoming new members at an interesting rate. He also added that there is a lot more movement on the exchange than there was earlier in the year.
“The new user registrations are picking up very aggressively, like getting close to the sort of [numbers] generated under 2018…All of those indications are very clear, the activity level is definitely much higher than even three or four months ago.”
Regardless of the Covid-19 crisis, Binance seems unstoppable. 2020 might end up being the best year yet for Binance as its market cap exceeds $2.5 billion.
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