<ul data-eligibleForWebStory="true"><li>Binance, founded in 2017 by Changpeng Zhao (CZ), has become the largest exchange in the industry.</li><li>CryptoQuant's whale ratio on Binance has surged by 400% since 2023, indicating a significant increase in large-holder inflows.</li><li>The whale ratio went from 0.08 in mid-2023 to 0.77 in 2024 and 0.76 in 2025, showing a remarkable uptrend.</li><li>The growing presence of whales suggests that major investors are increasingly comfortable using Binance, boosting liquidity and institutional relevance.</li><li>Despite high market volatility in 2025, Binance users are holding onto their assets rather than selling during price swings, indicating long-term confidence.</li><li>Activity in higher beta altcoins on Binance remains strong, highlighting sustained risk appetite among users.</li><li>Binance's market leadership is reinforced by the rising whale momentum, positioning it favorably with strong scale, liquidity, and ecosystem.</li><li>Assuming a stable regulatory and competitive environment, Binance is expected to maintain its dominance with increased institutional participation.</li></ul>

Whale Activity on Binance Surges 400% Since 2023

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