The decline in the cryptocurrency market does not prevent Binance, the world’s largest crypto currency exchange, profiting hundreds of millions of dollars.
In an interview with Bloomberg, the head of the Binance Chanpen Zhao said that this year the net profit of the exchange will be from $500 million to $1 billion In the first half of it has already received about $300 million profit. The average daily trading volume at the site is approximately $1.5 billion, with 10 million registered users. The words of Zhao show that the exchange rate of the cryptocurrency is not affected the business of major kryptomere even against the backdrop of a significant drop in people’s interest in digital currencies and gain control over the market by regulators.
According to Zhao, in the beginning of the year Binance was about $2 million users. The exchange launched in July 2017, after he has collected $15 million on ICO. When the cryptocurrency fever reached its peak at the end of last year, the volume of daily trading amounted to about $11 billion Now Binance tops the ranking CoinMarketCap with intraday trading volume of $1.3 billion.
Recall that Binance will soon open in Uganda a platform called Binance Uganda, which will be cryptocurrency trading in tandem with Ugandan shilling, and before the end of the year plans to add to his one exchange (euros) or several Fiat currencies.