Binance leads crypto exchanges in Bitcoin deposits in 2024
Average Bitcoin and USDT deposits across crypto exchanges escalated over the year, indicating a rise in institutional demand for digital assets.
Cryptocurrency exchanges have seen a sharp increase in average deposits in 2024, driven by larger purchases from professional and corporate investors.
According to a Dec. 3 analysis by CryptoQuant, Binance saw its average daily Bitcoin (BTC) deposit rise by 2.77 BTC over the year, outpacing competitors like Kraken and Coinbase — with average daily deposits up by 0.56 BTC and 0.41 BTC, respectively.
Data across exchanges shows that average Bitcoin deposits escalated from 0.36 BTC in 2023 to 1.65 BTC in 2024, while deposits with Tether (USDT) stablecoin surged from $19,600 to $230,000, indicating growing participation from institutional investors and market makers inflows to exchanges.
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Author: Ana Paula Pereira
