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Binance bound for $ 1 billion


The first quarter of the year was full of news, both inside and outside the crypto world. Geopolitical conflicts in the Middle East, Coronavirus, the Impeachment against Trump, Bitcoin’s bullish rally and then its fall, all in just three months. And amid so many events, Binance, the most famous exchange in the west, has kept growing. Aiming for $ 1 billion in profit, as Changpeng Zhao comments in our Tweet of the day:

Will Binance earn $ 1 billion?

They say that during crises there are the best opportunities, that it is only a matter of recognizing and taking advantage of them. And it seems that this is the motto of Binance, the most important exchange in the western world, which has experienced a meteoric rise in recent years. Expanding to more and more sectors and consolidating its importance within the crypto world.

That, even despite the variations that the crypto market has experienced in recent months. Going from the bullish optimism of the first two months of the year, to the loss of half of its value in a single day due to the Coronavirus, to the current situation of volatility and uncertainty, waiting for the next Halving in the Bitcoin Blockchain.

According to a tweet from Richard Raizes, analyst Plutus21, during the first three months of the year the exchange posted earnings of $ 262 million. Which would put Binance on track for $ 1 billion in earnings this 2020, as long as the trend it has had so far continues.

All this in the midst of a recovery in sales volumes, as commented by the CEO of the exchange, Changpeng Zhao, in response to Raizes’ tweets:

“Volumes are back (with record numbers indeed), #Bitcoin is not dead yet.”

Changpeng Zhao

Zhao agreed that Binance is on track for $ 1 billion in profit

With this message, Zhao would not only confirm the earnings figures received by his company. If not, he would be optimistic about the forecast of a billion dollars in profits for this year. What, in short, would show the dynamism of the crypto market even in times of global crisis.

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