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In the last three years, cryptocurrencies have gained popularity among occasional investors and financial experts. While the demand for encryption has increased, particularly in the last phases of 2017 and at the beginning of 2018, the exchanges of cryptocurrencies have had to keep pace with the increase in the volume of trade.
One of the most popular exchanges, Binance, has seen their volume of trade change drastically. In July 2017, Binance offered a first money offer for its cryptocurrency, BNB token, and raised $ 15 million. Today, the currency has increased its market cap to $ 1 billion, making it probably the largest encrypted exchange in the world today.
The CEO, Changpeng Zhao, believes that Binance will be the Google of the whole blockchain, also says that the exchange continues to grow in the middle of the market decline, which just the decline he spoke of is actually a blessing in disguise.
Binance's trading volume has become a respected exchange
The trading volume of the exchange is about $ 500 million a day; a figure that dwarfs any of its competitors. For the context, due to the recent NYDFS endorsement of Coinbase Custody, many believe the CoinBase exchange is the largest, but sees an approximate trading volume of $ 40 million for, which is a mere fraction of Binance.
Another noteworthy point is that Binance has never reported a hack, which is something that can not be said for other exchanges.
In addition, Binance is an ever-expanding business that opens an investment division, a research division and an outlet for education and assistance. In its charitable division, the company raised $ 100 million to support the UN's sustainable development goals through blockchain-based donations. They also invested in TravelbyBit, a travel startup and an exchange in the African nation of Uganda.
In short, Binance is diversifying its business portfolio and has become a big supporter of blockchain technology worldwide. Adding all of this together and not surprisingly, the company has earned the respect of so many people who make Binance their preferred trading platform.
Binance He remains focused on the expansion of his empire
In a recent interview with TheStreet, Founder and CEO of Binance, Changpeng Zhao discussed the latest updates with Binance and what he expects in the future.
When asked how he would describe Binance today Zhao said: "Right now, Binance it is still an important exchange of cryptocurrencies and many people see us such as this, but we are building the ecosystem. We want to be the infrastructure service provider for the blockchain space, so we have a number of different initiatives".
Essentially Zhao would like to establish a "infrastructure for tomorrow's blockchain industry". It is not an unlikely idea for Binance to lead the charge in this area, given their track record so far.
Zhao also touched the theme of the year up and down the cryptocurrency market in general was until 2018. He mentioned the beginning, but how the market has cooled as well as trading volumes. However, this did not stop the company's focus on its future success with Zhao, which firmly believes that 2018 was a good time to keep moving forward with the company's growth ambitions.
Zhao HasDubbed The Market decline 2018 as "Lucky"
During his interview, he declared "In fact, we were lucky enough that the market was falling slightly. If the market continued to grow this way, we would not have been able to keep up. It actually gave us the breath to build a firmer fundamental basis. Now, when the market takes off again, we will be ready".
Overall, Zhao has an optimistic point of view for Binance and Crypto. One of its main objectives for 2019 is to "increase the adoption of cryptocurrency", which is a common message to different companies and blockchain exchanges. One way Binance hopes to do so is by continuing its strategic partnerships.
Zhao explained his approach to partnerships: "We look for teams that share our vision, who want to build infrastructures for ten years along the road to this sector, if you see a guy who believes in this industry – who is willing to squat for the next ten years and build a solid service – those are the types of teams we want to invest or acquire ".
If one thing is certain it is that Zhao has demonstrated through proven growth, leadership and successful partnership that is the right candidate to continue driving Binance. In the end, he wants people to recognize Binance as do companies like Google.
It is exciting to see Zhao's vision and plan come to fruition and Binance is certainly able to continue to lead blockchain integration into society.
