Binance, The World’s Largest Exchange, Expected to Make $1 Billion in Profits in 2020, Says CEO

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Binance, the world’s largest cryptocurrency exchange by trading volume, is expected to make about $1 billion in 2020, up from $570 million from 2019.

Started in 2017, Binance has come to dominate the crypto derivatives market with its bitcoin and altcoin futures.

In Africa, the company recently announced it has transacted over $280 million from its peer-to-peer exchange in 2020 alone, making it one of the most successful P2P platforms on the continent.

SEE ALSO: We have Processed a Total of $280 Million in Africa so far on Binance P2P Since March 2020, says Binance

Binance has also made some notable acquisitions in 2020, one of which is CoinMarketCap, the number 1 marketplace for checking thousands of cypto coin prices and exchanges for crypto investors.

The 2020 crypto bull run has also greatly contributed to these figures. Bitcoin alone has risen over 175% in 2020 and recently hit a new all-time high.

RECOMMENDED READING: Bitcoin Breaks the All Time High!

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