bitcoin
Bitcoin (BTC) $ 22,741.09
ethereum
Ethereum (ETH) $ 1,635.31
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 322.32
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.395103
binance-usd
Binance USD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.088429
cardano
Cardano (ADA) $ 0.38804
solana
Solana (SOL) $ 22.84
matic-network
Polygon (MATIC) $ 1.32
polkadot
Polkadot (DOT) $ 6.88
tron
TRON (TRX) $ 0.065189
bitcoin
Bitcoin (BTC) $ 22,741.09
ethereum
Ethereum (ETH) $ 1,635.31
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 322.32
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.395103
binance-usd
Binance USD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.088429
cardano
Cardano (ADA) $ 0.38804
solana
Solana (SOL) $ 22.84
matic-network
Polygon (MATIC) $ 1.32
polkadot
Polkadot (DOT) $ 6.88
tron
TRON (TRX) $ 0.065189
Thursday, February 9, 2023
HomeCoinsBitcoinBinance annual income grew 10x over the previous 2 years, whereas OKX's...

Binance annual income grew 10x over the previous 2 years, whereas OKX’s grew 4x

Binance‘s and OKX‘s annual income grew 10x and 4x over the previous two years, respectively, whereas Huobi’s quarterly income fell by -98% because the second quarter of 2021, as reported by CryptoQuant.com.

Binance

Binance’s quarterly income began to develop exponentially in 2021 and maintained its progress all year long. The change’s annual income reached round $12 billion in 2022.

Binance quarterly revenue
Binance quarterly income

Nevertheless, the change’s buying and selling volumes began to fall on the finish of 2022, which additionally lowered the estimated quarterly income. In December 2022, Binance misplaced 90,000 Bitcoin (BTC) from its reserves in a single week. In line with information from Jan. 9, the change noticed $12 billion price of withdrawals within the earlier two months. The change’s buying and selling quantity additionally hit its two-months low on Dec. 23, reaching $9.39 billion.

OKX

In line with CryptoQuant, OKX’s income recorded 4x natural progress over the previous two years.

Burned OKB and volume
Burned OKB and quantity

The change burns its native token OKB or repurchases them based mostly on spot buying and selling price income. The burned OKB tokens recorded a rise of 600% in 2021, growing from $12.5 million to $87.5 million. The token’s spot buying and selling quantity additionally recorded a parallel progress, reaching nearly $3 billion on January 2022.

Huobi

Within the meantime, Huobi World’s quarterly income has been recording a gentle lower since April 2021.

Huobi Global quarterly revenue
Huobi World’s quarterly income

In April 2021, the change recorded $1.25 billion in income, solely to drop beneath $250 million by 2022. Primarily based on the info, the change is predicted to come back even nearer to zero in quarterly income by 2023.

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The change determined to retreat from China in November 2021, regardless that it was the dominant change within the Chinese language market on the time. In October 2022, Huobi’s founder bought his shares, which corresponded to 60% of the corporate. On December 2022, the group was knowledgeable that Huobi was battling the winter situations and will begin layoffs.

Regardless that Huobi’s CEO denied these claims on Jan. 2, the change mentioned it was planning to put off 20% of its employees on Jan.6. On Jan.5, over $60 million price of crypto left Huobi’s reserves inside 24 hours. On Jan.9, Huobi Korea introduced that it’s separating itself from Huobi World to turn out to be an unbiased entity.

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