He Yi: Binance Wallet Accounts for 75% of Trading Volume
Binance co-founder He Yi stated that Binance Wallet currently accounts for approximately 75% of the overall wallet trading volume, processing over $13 billion in transactions daily.
The wallet employs a Multi-Party Computation (MPC) architecture to enhance asset security and account recovery capabilities, and integrates features such as protection against erroneous addresses, alerts for potential malicious contracts, and warnings for high-risk tokens/networks.
He Yi mentioned that the future direction of self-custody development is not only to improve security strength but also to make security usage more intuitive at the product design level.
In terms of market mechanisms, the high trading share and MPC security features attract user funds to the Binance ecosystem wallet, concentrating funds from other self-custody solutions to products with integrated protective features. Event-driven data boosts related on-chain activities, benefiting Binance Wallet users and ecosystem projects, while putting pressure on independent wallets with lower market shares.
Source: Public Information
ABAB AI Insight
As a co-founder of Binance, He Yi continues to drive the iteration of wallet products, previously emphasizing user security and self-custody experience. The announcement of the 75% trading share data continues the path of expanding from exchanges to on-chain tools, similar to strategies employed by other major exchanges to lock in user assets and trading flows through proprietary wallets.
On the capital path, the MPC architecture and built-in protective features reduce user operational risks, motivated by the aim to enhance self-custody adoption rates and solidify the ecosystem's closed loop. Resources are tilted towards security and intuitive design through high daily trading volumes, forming a positive cycle from trading share to product iteration.
In comparison to MetaMask's early dominance and competition with exchange-built wallets, Binance Wallet is currently transitioning from a supplementary function to a dominant trading entry point, with its industry position shifting from an auxiliary tool to a core traffic and security infrastructure.
Structural judgment belongs to technological substitution, where the mechanism lies in the MPC and alert functions lowering the threshold for private key management, leading users from complex independent wallets to integrated products, causing the self-custody market share to concentrate on platforms with exchange traffic and security engineering capabilities.
ABAB News · Cognitive Law
- Trading share is the true moat of wallets.
- Security must be intuitive to be adopted by the public.
- MPC makes self-custody the default choice rather than an expert tool.