Binance Reports ‘Powerful’ Surge Following Halving Event Among New User Accounts

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Azeez Mustapha

Updated: 13 October 2022

More than any cryptocurrency exchange platform Binance is on a trajectory for a record-breaking number of new clients. This surge is attributed to the Bitcoin network’s recently conducted third halving.

While it is only three years old, Binance is one of the largest crypto-platforms in the world. In 2018, it registered nearly 7 million regular clients within a 100-day duration.

Unlike its rivals, with a quick enrollment process, Binance opens its doors to clients from around the world. While more governments acknowledge crypto as a legal exchange medium, enthusiastic clients are leaping on the prospect of becoming part of the crypto market. For some the solution is Binance.

The platform attracts new participants at an exciting rate, according to the Binance CEO Changpeng Zhao. He further noted that on the market there is much more activity as there was in the year before.

“The new customer enrollments rising quite vigorously, including moving closer to the kind of [figures] created during 2018 … All of those signs are evident, the level of activity is certainly significantly greater even than three or four months before.”

Whatever the Covid-19 issue, Binance does seem to be relentless. 2020 could probably wind up becoming Binance ‘s best year so far, as its market cap crosses $2.5 billion.

Binance.US Is Currently Going Through Regulations
“Our emphasis is strongly on education as well as being sure to provide the lowest fees throughout the United States to somewhat lower people’s obstacles to entry barriers, […] but we’re early on in terms of the products we are offering to our U.S. clients,” Coley said.

“It is just a long time in the U.S. going through all the regulatory enforcement work,” added Zhao. “lets hope we’ll get somewhere, and continue enhancing the product.”

Coley has also noted the introduction of over-the-counter trading services by Binance.US on May 11.