Binance makes top 6 in Cloudflare’s DNS traffic stats for financial apps in 2024

San Francisco Cloudflare, Inc. released its fifth annual year in review report. The connectivity cloud company’s report goes through the most popular internet services, providing global internet insights and security trends for 2024. Binance was the crypto industry’s representative, making it into the top six.

According to Cloudflare, financial services cover everything from traditional banking to crypto and tax tools. According to the 2024 report, the top six financial services are Stripe, Trading View, Alipay, PayPal, Nubank, and Binance.

Cloudflare’s network presently extends across over 330 cities in over 120 regions, serving an average of over 63 million HTTP(S) requests per second for millions of Internet properties. Additionally, it manages over 42 million DNS requests per second on average.

Binance makes the top six of finance applications 

According to Cloudflare, Binance peaked in third position on November 12-13, following the US elections. However, it settled in sixth position, up from eighth last year.

On the other hand, PayPal fell to the fourth position from the second spot. Also, TradingView ascended to the second position, while AliPay, the Chinese mobile and online payment platform, secured the third position.

Nubank, the Brazilian Neobank (exclusively online), entered the top 10 at the fifth position. It is regarded as the most valuable. It is one of the largest financial groups in Latin America and the world’s largest digital bank. 

Crypto ratings and financial impacts 

Cloudflare conducted a specific evaluation of services related to crypto in the financial services category. The findings are that the crypto sector has continued to develop in 2024 despite a few collapses in recent years.

Crypto has also experienced a late-year boom. Binance and Coinbase maintained the top two positions, while OKX advanced to third place this year.

In late August, CoinGecko was demoted to the sixth position as OKX took its place. Meanwhile, 2miners.com, a new entrant, ascended to the fourth position.

CoinMarketCap ranked fifth, followed by several dynamic new entrants in the Top 10.

The overall classification was influenced by the US elections and Bitcoin’s price. Coinbase’s most successful day was November 21, when it ranked #131 as Bitcoin approached $100,000.

OKX peaked at the 149th position on Nov 22 as CoinMarketCap reached the176th position on Nov 23

Also, on September 26, Binance made its debut in the Top 100 when Bitcoin surpassed $65,000.

Financial attacks per Cloudflare data 

According to Cloudflare, the frequency of attacks in industries frequently changes over time, depending on the attackers’ intentions.  

When their intention is financial harm, they aim at e-commerce sites during peak buying season, assault online games to gain advantages over opponents, or attack government-related sites to make political statements.

To determine industry-specific attack activity in 2024, Cloudflare examined mitigated traffic for customers having an associated industry and vertical in their customer record.

May was the most active month for attacks targeting finance organizations, with an upsurge of 15.3% of mitigated traffic occurring during the week of May 13. 

This is consistent with the figure in the Q2 2024 DDoS threat report, which indicates that the Financial Services industry was the most frequently targeted for request volume in South America and the Middle East region during the quarter. 

Companies in the gambling/games industry were the most targeted in 2024, accounting for 6.6% of all global mitigated traffic.

The industry was marginally ahead of Finance, which topped 2023’s aggregate rankings. Gambling and games sites saw the greatest share of reduced traffic in January and the first week of February.

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