Binance captures 97% of South Korean market and half of global Bitcoin transactions

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Binance’s user safety systems had prevented more than $4 billion in potential losses in2 2024.

Binance continues to solidify its position as the top global crypto exchange, as recent data highlights its growing dominance across key markets.

Data from CryptoQuant shows that the crypto commands a staggering 96.91% of crypto trading activity in South Korea. In contrast, local exchanges like Upbit and Bithumb collectively account for only 3.09% of the market.

On a global scale, Binance’s influence is equally profound. Data from Kaiko shows that nearly half of all Bitcoin transactions worldwide occur on the Richard Teng-led crypto exchange, cementing its position as the go-to platform for crypto enthusiasts.

These numbers reflect crypto traders’ increasing reliance on Binance for its advanced offerings and seamless user experience.

Moreover, Binance’s success can also be attributed to its proactive measures to safeguard users. A 2024 report pointed out that its security systems protected nearly 2.8 million users from potential losses of $4.2 billion. These efforts have reinforced trust in the platform as a secure and reliable exchange.

Additionally, the exchange also leads the industry in regulatory compliance, having obtained licenses in 21 regions, including major markets like India, Japan, Brazil, and Argentina. This expansive regulatory footprint demonstrates Binance’s commitment to providing global access while adhering to local laws.