The Unprecedented Success of Binance and Binance Coin (BNB)
Apr 11, 2019
- Binance, the global leader in daily cryptocurrency exchange trading volume and largest crypto exchange in the world, is not only succeeding in the current crypto industry environment; it's paving the way for others to follow in its path. Since cryptocurrencies initially crashed in early 2018, Binance has displayed a priority of building and establishing foundations to further the future of the crypto industry rather than focusing on maximizing profit in crypto industry's current state.
- To find evidence of Binance's success over the last year, look no further than its cryptocurrency Binance Coin (BNB), which has appreciated more than 182% in 2019 alone to $17.17!
Binance Coin (BNB) Price (July 2017 - Present)
- Binance is quickly becoming a pioneer for building a robust and successful company within the cryptocurrency industry. As the crypto market itself has changed, Binance has swiftly adapted to meet the current and future needs of customers. Specifically, Binance has fluidly transitioned through three stages over the last 12 months:
- After cryptocurrencies crashed in early 2018 and the market slowly began to rally into April and May, Binance prioritized the expansion of its crypto-to-crypto exchange, which allowed users to simply buy and sell cryptocurrencies, into 15 new countries. During this period of expansion, Binance was able to capture a large number of new and existing users.
- As the market downturn began in late May and extended through the summer, Binance shifted focus from acquiring users to introducing new value-adding products onto its platform. One notable example of these value-adding products was Binance LaunchPad, a platform to host initial coin offerings (ICO) widely used today.
- Now, Binance is focusing on building out the infrastructure of its highly anticipated decentralized exchange, a venture that could result in all kinds of implications for the crypto industry.
- Binance also continues to maintain a focus on expanding into new areas, which will undoubtedly propel the exchange's growth of users. According to comments from Binance CEO Changpeng Zhao last week, the company aims to launch Binance Singapore, a fiat-to-crypto exchange venture, by April's end.
- Binance has cemented its place as a leader, if not THE leader, in the cryptocurrency industry. Because the cryptocurrency industry is still relatively in its infant stages, Binance can only benefit so much from growing within the crypto industry. As such, Binance understands that robust growth of the crypto industry will drive robust growth of its own exchange.