Binance Expects To Earn $ 1 Billion In 2018
Cryptocurrency exchange Binance expects to earn between $ 500 million and $ 1 billion this year, CEO Changpeng Zhao told Bloomberg this Friday..
According to him, in the first half of the year, Binance’s income amounted to $ 300 million.The average daily trading volume was about $ 1.5 billion, and the site’s users are 10 million people, he added..
Zhao previously reported that at the beginning of the year, Binance had a user base of 2 million. The exchange was launched in July 2017, 11 days after the completion of the ICO, during which it managed to raise $ 15 million.
At the peak of the popularity of cryptocurrencies at the end of last year, Binance trading volumes reached $ 11 billion per day. Over the past 24 hours, the exchange processed $ 1.2 billion of transactions, according to CoinMarketCap..
The exchange’s large profits allow it to implement plans for the further development of its business. Binance recently announced the launch of a new fiat currency trading platform in Uganda.
At the same time, other cryptocurrency platforms continue to expand. Thus, the Huobi exchange on Thursday opened a division in Australia with support for the local fiat currency of the Australian dollar. In the near future, the company also plans to provide its services to users in the UK and USA. Coinbase, meanwhile, is discovering the Japanese market and hopes to obtain a banking license in the United States..
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