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Kraken Hits Record $1.5 Billion Revenue in 2024, Marking 128% Growth
Kraken, a leading cryptocurrency exchange, has announced its financial results for the year 2024, showcasing an unprecedented revenue growth of 128%. The staggering figure stands at $1.5 billion, a significant milestone in the company’s history.
According to the report, Kraken’s impressive performance is a testament to its commitment to accountability and steady growth. Despite the volatile nature of the cryptocurrency market, the exchange has maintained its focus on building a robust platform that offers secure and efficient trading solutions.
In 2024, Kraken achieved remarkable milestones in terms of assets held on its platform, which reached $42.8 billion by the end of the year. Additionally, the number of funded accounts grew to 2.5 million, indicating an increasing trust in the exchange’s capabilities.
Kraken’s impressive financials also highlight its technical prowess. With a 99.9% uptime and sub-2 millisecond round-trip latency, the platform has consistently delivered seamless user experiences despite handling over 2.5 billion trades since inception.
The company’s leadership emphasized that it has always focused on steady and methodical growth rather than chasing short-term gains. This approach has allowed Kraken to maintain its strong presence in the market while avoiding superficial metrics.
As regulatory clarity increases globally, including in the US, Kraken is well-positioned for even greater success in 2025. With an impressive market share of over 40% among major centralized exchanges, it will be exciting to see how the platform adapts to the changing landscape and continues its upward trajectory.
Kraken’s exceptional performance has put it at the forefront of offering innovative trading solutions, solidifying its position as a leader in the cryptocurrency industry.
Source: coinpedia.org
