Binance Expects To Reach $ 1 Billion This Year

Zhao Changpeng, CEO of cryptocurrency exchange giant Binance, says the exchange plans to increase trading profits to $ 1 billion this year.
Cryptocurrency is now a constant topic of conversation and articles, as are the cryptocurrency exchanges themselves. One of the most popular exchanges on the market, called Binance, provides a monthly report on its work, according to the latter, 7.9 million users are registered on the resource. After such an indicator, interest in Binance flared up even more.

Ignoring the fact that the cryptocurrency is currently trading at a low level, the Founder and head of the Binance cryptocurrency exchange Zhao Chaepeng said that the exchange’s profit for the first two quarters of this year was about $ 300 million. It is also expected that profit by the end of 2018 may increase to $ 1 billion.

Cryptocurrency exchange Binance, which often leads the first lines in world statistics in terms of trading volumes, for which only the OKEx crypto exchange serves as a serious competitor, currently holds the level of $ 1.2 billion in trades over the past 24 hours.

Due to the quickly earned profit, the exchange began to actively expand. At the end of last month, the head of the exchange announced the opening of a trading platform in Uganda (a state in East Africa), which is called “Binance Uganda”.

In April, it was also reported about the expansion to Bermuda, and the move of the head office of the Binance exchange to Malta opened a window on the crypto market in Europe. Currently, according to the head of the crypto exchange, it has 10 million active users.

Other crypto-exchanges are also not standing still on the expansion, yesterday we reported that the Huobi exchange, which is originally from China, confirmed that starting from July 5, the exchange will operate in Australia, and the leader of the American crypto market, Coinbase, announced in May the launch of a new version of its the GDAX platform, which bears the new name Coinbase Pro and also announced the acquisition of the Paradex crypto trading platform.