Binance to hit 1 billion in profits?
The world leader cryptocurrency exchange expects 1 billion USD in profits in 2018. The exchange made an enormous profit in the first half of 2018. There profits were about 300 millions USD, while active user-base 5 timed itself. Data shows these growth numbers are still continously expanding.
Changpeng Zhao has always been positive about cryptocurrency market in general, despite of the fact that this year was nearly all about the falling exchange rates compared to FIAT currenies. The most recent forecasts show that Binance could get up to a billion in profits. Zhao told Bloomberg that compared to the 2 million users that Binance handled at the beginning of this year, it has now reached a level where more than 10 million users are joined the exchange platform.
The data clearly shows that the expansion of Binance started last year, July when Binance announced it's ICO, and attracted 15 million of capital. At moment of writing daily turnover at Binance is around $1.5 billion.