Daily crypto: Calm markets, and Binance aims for billion dollar profit

Binance expects to make a profit of one billion dollars this year. Image source: Shutterstock/Trijo News

2018-07-07 11:02

Totte Löfström

totte.lofstrom@trijo.co

Despite the declines of the crypto markets during the first half of 2018, the worlds largest crypto exchange, Binance, predicts that they will show billion dollar profits for 2018.

The worlds largets crypto exchange, Binance, has been around for just about a year now, but they are growing strong. Now, in an interview with Bloomberg, the company CEO Changpeng Zhao said that he expects the company to make a profit of between $500 million and one billion dollars this year. This far, Binance has made a profit of about $300 million.

In the interview, Zhao also reveals that Binance now has around 10 million users, which could be compared to about 2 million at the beginning of the year. Together, they convert nearly $1.2 billion on a daily basis.

On the price side of things, most cryptomarkets are quite calm but upward moving at the moment. On the top five, eos (+2,51%) and ethereum (+2,08%) was the biggest winners, while bitcoin (+1,22%) and bitcoin cash (+1,28%) gained, but not as much as the others.

On the top 100, the biggest gainers was loom network (+38,73%) and tezos (+33,94%), but pundi x (+15,77%) and polymath (+14,51%) performed quite well as well.

The biggest losers of the last 24 hours was mithril (-9,12%), rchain (-5,74%) and mixin (-4,93%).