The Binance Survey shows that 45% of users will enter Crypto by 2024

Binance recently published a survey of its users, in which 45% of respondents said that They joined the crypto market in 2024. The exchange received responses from over 27,000 people on six different continents.

The firm shared this survey with BeInCrypto.

Binance, one of the largest cryptocurrency exchanges in the world, only sought answers from its users, not the broader crypto space, so the survey results are somewhat skewed. Still, these responses provide valuable information. For example, 45% of these customers entered the site only in 2024, and the exchange asked for their motivation.

“Rapid appreciation of digital assets emerged as the leading motivation for our users, with 22.4% of respondents citing this. Decentralization and financial independence were significant drivers influencing 18.78% of participants. Meanwhile, 17.16% of respondents highlighted the speed and ease of transactions as key factors,” Binance said.

In other words, Binance Labs is worth a careful look at the 2024 bull market early this year. Since the early days of crypto, enthusiasts have hailed it as a store of value.

However, these new users showed no interest in this feature. Additionally, about 44% of participants have less than 10% of their total assets in crypto.

The respondents live in a very different region, but almost 20% expect a positive crypto regulation in 2025. More than 16% predict further participation from traditional financial institutions after joining the space in record numbers this year. A similar number of people anticipated the use of blockchain technology.

However, at a few points, it became particularly clear that this group does not fully reflect the entire crypto space. For example, meme coins are the most popular asset among Binance survey respondents, and hold Binance's own BNB token more than Ethereum.

Participants didn't just catch meme coins at high speed; They also believed that these assets will dominate the market next year. However, the pace of this sector is slowing on several key indicators. These Binance users are optimistic about the future, but half of the sample in this survey is inexperienced.

In other words, the survey method still covered a narrow area in a few ways. For example, it does not include US users, possibly due to the company's ongoing legal troubles in the country. Finally, Binance has compiled some valuable information by conducting this extensive international research. It may not represent the entire crypto space, but it does represent a growing group.