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Skeptic’s lens: Binance just recorded its best quarter yet, but there’s a caveat

by Larry Cermak

July 8, 2019, 10:29AM EDT  ·  2 min read

Quick Take

  • Binance had its best month in its existence; surpassing $60 billion of reported traded volume in June
  • Binance’s net profit in Q2 will very likely surpass $100 million and be as high as $150 million
  • Next week, 16 million newly unfrozen BNB worth $539 million will be distributed to the team as part of the yearly vesting schedule
  • U.S. users, which account for about 20% of the total traffic, will no longer be able to trade on Binance.com starting Sept. 12

by Larry Cermak

July 8, 2019, 10:29AM EDT  ·  2 min read

Binance, the largest crypto-to-crypto exchange, just had its best month in its existence; surpassing $60 billion of reported traded volume in June. 

As interest in cryptocurrencies increased across the board in the last few months, Binance was able to capture a significant portion of the volume. The reported traded volume in May and June (~$125 billion) was higher than in the previous four months combined.