Money To Spend, The Value Of Crypto Exchanges
Did you know binance has made 200 millions dollars this quarter? That is a lot of money. And it is money that is totally depend on the success of crypto and crypto markets. Why does this matter? Because this is a big company that has growing in reserves for cash and this is cash that will be spent to expand its company and the world of crypto. And as they grow so does the market value of crypto and so does their business. They make a percentage of each trade, which means that the higher the value of coins the more profit they are seeing. And this is just one exchange.
When businesses like this, who need crypto to grow, make a lot of profit it will lead to future support of the area in a whole. I mentioned this before with ICOs and all the money these companies have sitting there. But it is not just them, it is exchanges and companies, like steemit, who are going to see profits as their coins value increase. Even the people who invest themselves who are seeing an increase in revenue. A lot of this money will go to continue to grow the space.
Yes we do want to see banks and other institution get on the train and we are starting to see that with stock exchanges but even without them there is a lot of money in this field and with a lot of room to grow things look very positive.
Here is a link for more info on the binance profits:
https://cryptobriefing.com/raining-cash-binance/
That's indeed very impressive. They are certainly in the global top 10 of asset exchanges..
And as they grow so does the market value of crypto and so does their business
I hope then companies like binance should grow at a fast pace.
Decentralized exchanges have their place, centralized exchanges may have their place as well. Free market will decide for us, that's its nature. Nice article, @whatageek .
As much as the bad blood of cryptocurrency in many government continues, These exchange bodies like binance must know that they're totally dependent On the success of the currency and it's traders, huge money here really
Very exciting times. I try to tell all my friends, and anyone who'll listen, if you dont own crypto you are making a mistake. This is the future. Now, of course, not all crypto is created equal, some is crap, so do your research. But we are in the infancy of this, and it will be an enormous part of the future economy, not having a slice now is a foolish mistake.
What you are talking about in this post makes me think of the "network effect", the value of the network grows with its membership. Its not exactly the same thing, but the growth of Binance, is going to grow crypto because they are tied. And the growth of crypto is going to grow Binance. And that truth applies to many quality projects like Steemit.
I hope our steem grow fast and quite
Wow that’s a lot of money, glad to hear this money will be channeled towards the expansion of crypto world. I can feel the better days ahead
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Of course the need to have big fishes come into the game is essential, especially banks but as you’ve said. Even without them , there’s a lot of money in circulation and this is just the beginning. Crypto is the future
Crazy! I am an advocate of decentralized exchanges like Bitshares!
Great news. You have to stay tuned. Thanks for the info.
Thank you for your info and this article is a best ever read I today