18/10/19 03:50 UTC-5

The profit of the Binance cryptocurrency exchange amounted to $1 billion

The results of the last BNB coin burning showed an amount of $ 36.7 million. The head of the exchange said in a blog that this is the period of the most significant formation of the company.


Binance burned 2,061,888 BNB


Changpeng Zhao emphasized that multiple winners are creators of products for other people. And Binance plans to act in that direction. Over the past quarter, the exchange burned 2,061,888 tokens. Analyst Larry Chermak noted that the result outperformed previous figures.

Changpeng Zhao listed the factors that influenced the growth of Binance's profit: simplification of the purchase of cryptocurrency due to the introduction of new tools, the presence of margin tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
, futures trading. Services will allow the company to grow further.    

The head of Binance added that the profit of the exchange may be less than that of other platforms despite the activity of users. This is affected by low fees and investment in long-term projects, regardless of market conditions. Zhao says he thinks about the future progress of the platform.

Interesting in the section: Why altcoin exchanges stop working: dates, reasons, withdrawals

See also: "Bitfinex Exchange launches new loyalty program"

#Binance #cryptocurrency #BNB #ChangpengZhao #exchanges

Editor: Daria Mukhina