Binance is the world largest cryptocurrency trading exchange in terms of volume has been compared to many banks and financial institutions in term of profit and has outperformed them in terms of revenue. Binance has achieved this in a very short period of time.
On 3 May 2018 The Element Group tweeted:
According to multiple sources, Binance has made 3 times more money than Twitter in the first quarter of the fiscal year but has not yet announced its profits publicly. The market analyst has put up some figures who estimate that Binance profit could be $150 million.
Binance came up to the top after it moved up seemingly towards the end of 2017 when the price of cryptocurrencies was about to blossom. Other exchanges had to face a lot of issues with government and registration of new users.
A Cryptocurrency investor Lucky Ghost says Binance is the best exchange in the world.
Binance is just 9 months old while Twitter has been ruling the social media market for the last 11 years. Conversion of Dust to BNB token using the Broom tool lit up the market with curiosity and speculation.
The Element Group recently calculated the approximate profits of Binance and compared it to Twitter’s net profit and Binance looks like a clear winner to them. According to the reports released by Twitter for the first quarter of 2018, its net profit accounted for $61 million. $89 million less than that of Binance.