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The crypto universe has reached new heights in 2024. A key milestone was the approval of spot Bitcoin ETFs in the United States, becoming the catalyst for a wave of high-profile (and rich) institutions entering the scene.

Bitcoin ATHs, spot Ether funds and the BTC halving event are just some of the seismic changes the cryptosphere is experiencing. Put it all together, and the new CEO of Binance, Richard Teng, believes that the sector has officially transformed into its next era.

Welcome to the Early Majority stage.

Related: Coinbase Proposes New Metric To Accurately Track Blockchain and Crypto Adoption

Teng, in a statement to Cointelegraph over the weekend, was prompted for a response to Binance reaching a new userbase milestone. The worlds largest crypto exchange shook off the early-year controversy to continue climbing new heights in 2024.

We are deeply honoured and humbled to have welcomed 200 million registered users and counting.

The company has seen its customer base double in barely over two years (from 100 to 200 million), in large part thanks to cryptocurrencys newfound legitimacy as an asset class.

Teng was sure to acknowledge the broader ecosystems growth as key to Binances success, emphasising collaboration among the industry and financial inclusion and innovation.

This milestone isnt merely a triumph for Binance. Its also a sign of robust growth and maturity for the broader crypto sectorIt reflects a transition from early adopters of crypto to the early majority, indicating that more and more of the global population are warming up to crypto and its limitless possibilities.

Cryptos transition into the public eye wont always be smooth sailing the last time the sector saw this much attention culminated in the cataclysmic collapse of FTX.

But the industry has learned from this experience and is now working with regulators in its path toward global domination adoption. SEC approving Bitcoin ETFs was the first big step, but it is just one of many that will play out in the next six months.

Related: Analyst Reveals Several Reasons Why Ethereum Could Reach a $150K Valuation per ETH

The US election, and its outcome, will likely have major ramifications for the industry as both candidates jostle to position themselves as the pro-crypto President.

No matter who wins that battle, the fact digital assets are such a hot topic can only be a good thing moving forward.

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Binance CEO Says Crypto Adoption Advancing, Industry Now in Early Majority Stage - Crypto News Australia