The Hong-Kong based exchange on-boarded almost 7 million users in less than 100 days.
Hong-Kong based cryptocurrency exchange Binance is growing at an immense pace. According to a monthly report released today by the exchange on its Medium page, Binance now has 7.9 million "total and registered" users.
This figure is mind-blowing on its own, especially when we realize that Binance's competitors in the top 5 of the Coinmarketcap pyramid hold a similar number of users. However, it's even more astonishing when compared to the population of Hong-Kong. According to a census conducted in February by the Chinese government's bureau of statistics, the special autonomous region has 7.4 million residents.
250,000 new users in one hour
Another interesting factor is the period of time during which Binance, which was founded in September 2017, managed to reach this number of users. According to the report, the vast majority of its clientele - almost 7 million people - were on-boarded in only 97 days. This rapid pace appears more reasonable when we look at it in the context of the exchange's peak periods. According to an interview given by Binance CEO Zhao Chanpeng back in January, the exchange attracted a quarter of a million new users in one hour after reopening registration after a brief break.
Binance chain
This week Binance revealed some interesting news, announcing the establishment of its own Blockchain and the upgrade of its cryptocurrency. The new platform, called ‘Binance Chain’, will be used for the transfer and trading of blockchain assets. Binance promised thatit will eliminate administration tasks using smart contract rules and will speed up transaction settlement.
The exchange's own token, Binance Coin (BNB), will be upgraded and will now exist on its public blockchain.
However, Binance has experienced several setbacks during its time in operation. The exchange experienced numerous hacks and DDoS Attack, causing it to go offline. Last week, it fell under a sophisticated attack, causing mayhem in the crypto space and contributing to the bearish sentiment in the market. The anonymous hackers, who gathered the information of 31 Binance users by phishing and creating a special API key, pumped and dumped the VIA coin, causing its value to spike from a little over $2 to more than $10.
Soon after the hack, Zhao published a statement asking the public for help in catching the hackers, offering $250,000 in return for information leading to an arrest.
Hong-Kong based cryptocurrency exchange Binance is growing at an immense pace. According to a monthly report released today by the exchange on its Medium page, Binance now has 7.9 million "total and registered" users.
This figure is mind-blowing on its own, especially when we realize that Binance's competitors in the top 5 of the Coinmarketcap pyramid hold a similar number of users. However, it's even more astonishing when compared to the population of Hong-Kong. According to a census conducted in February by the Chinese government's bureau of statistics, the special autonomous region has 7.4 million residents.
250,000 new users in one hour
Another interesting factor is the period of time during which Binance, which was founded in September 2017, managed to reach this number of users. According to the report, the vast majority of its clientele - almost 7 million people - were on-boarded in only 97 days. This rapid pace appears more reasonable when we look at it in the context of the exchange's peak periods. According to an interview given by Binance CEO Zhao Chanpeng back in January, the exchange attracted a quarter of a million new users in one hour after reopening registration after a brief break.
Binance chain
This week Binance revealed some interesting news, announcing the establishment of its own Blockchain and the upgrade of its cryptocurrency. The new platform, called ‘Binance Chain’, will be used for the transfer and trading of blockchain assets. Binance promised thatit will eliminate administration tasks using smart contract rules and will speed up transaction settlement.
The exchange's own token, Binance Coin (BNB), will be upgraded and will now exist on its public blockchain.
However, Binance has experienced several setbacks during its time in operation. The exchange experienced numerous hacks and DDoS Attack, causing it to go offline. Last week, it fell under a sophisticated attack, causing mayhem in the crypto space and contributing to the bearish sentiment in the market. The anonymous hackers, who gathered the information of 31 Binance users by phishing and creating a special API key, pumped and dumped the VIA coin, causing its value to spike from a little over $2 to more than $10.
Soon after the hack, Zhao published a statement asking the public for help in catching the hackers, offering $250,000 in return for information leading to an arrest.
Crypto Mining Company Argo Reduced Losses by 85% in 2023
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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