According to CEO Changpeng Zhao (CZ), crypto exchange Binance is expected to make a profit of between $ 800 and $ 1 billion this year.
The number was revealed by CZ on December 4 after the CEO appeared in Bloomberg's list of 12 Most Popular Faces of the Year 50.
The expected profit margin of Binance this year is almost double what the exchange did last year - about $ 570 million, according to CZ.
If I look at the numbers this year, what CZ has said is quite valid.
Binance has had a successful year so far for the whole segment spot , and futures. As of November 30, the exchange's total spot trading volume has reached around $ 11 billion, of which the total volume of bitcoin futures is around $ 858 billion.
We can see more details in the chart below:
As for OI (open interest), Binance futures exchange crossed the $ 1 billion mark in November. OI mentions the value of the unpaid futures contracts.
Binance started offering futures trading in September 9, and since then, Binance has grown to become one of the top cryptocurrency derivatives exchanges today.
For its spot segment, Binance has seen growth of almost 2,5 times from last year's levels - the exchange recorded a total spot volume of around $ 402 billion in 2019.
Binance also offers options trading, but its numbers are unknown, as it is not found on current trackers.
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