Binance, Exchanges

How Much Binance Make a Day?

Binance, one of the world’s largest cryptocurrency exchanges by trading volume, could be making as much as $1 million per day in profit, according to a new report.

The estimate comes from a blog post by The Block’s Larry Cermak, who crunched the numbers based on data from Binance’s quarterly report and public blockchain data.

Cermak estimates that Binance made a profit of about $460 million in the first quarter of 2018, which would put its daily profit at around $1.27 million.

NOTE: Warning: It is not recommended to speculate on how much money Binance makes in a day, as the company does not provide this information. Additionally, it is important to note that cryptocurrencies are highly volatile and the value of investments can decrease significantly in a short period of time. As such, investing in cryptocurrency should only be done with caution and after thorough research.

That number could be even higher, Cermak notes, if the exchange is earning interest on its users’ deposited funds or if it’s making money from other sources such as listing fees.

If Cermak’s estimates are accurate, it would mean that Binance is one of the most profitable companies in the cryptocurrency space. The exchange has only been in operation for about a year and a half, yet it has quickly risen to the top of the industry thanks to its low fees, wide selection of tradable coins and its user-friendly interface.

Binance’s incredible profitability has also allowed it to amass a war chest of cash that it can use to finance future growth. The exchange recently announced that it had raised $200 million through a private placement of its Binance Coin (BNB) token, which it plans to use to build a decentralized exchange (DEX) and launch new fiat-to-crypto exchanges in Asia.

With its strong profits and war chest of cash, there’s no doubt that Binance is poised for continued growth in the months and years ahead.

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