Binance Wants to Make 1 Billion Profit This Year

July 9, 2018

Binance CEO Changpeng Zhao said, that despite some technical difficulties and even a short-time suspension of operations of the platform, the exchange plans to earn more than $1 billion this year.

Zhao noted that prices on the market will have a direct impact on the profit, noting that even the current trading level of BTC allows the exchange to have an income of more than $300 million. It's no surprise, that Zhao is confident, because Binance is the leader of the market by daily trading volumes. The number is around $1.2 billion per day. 

It should be noted, that despite the existence of a number of leading cryptocurrency exchange, the level of competition is high and forces exchanges to make moves. They are constantly developing and finding new partners around the world. For example, Coinbase is aimed at Japanese and US markets, while Huobi has opened a platform in Australia.

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