The number of users of Binance, one of the largest Hong Kong-based cryptocurrency exchanges, reached 7 million in less than 100 days.
Binance, the Hong Kong-based cryptocurrency exchange, is growing at a rapid pace. Binance now has 7.9 million total registered users. The numbers become even more surprising when compared with the Hong-Kong population. According to a February census by the Chinese government statistics bureau, the autonomous region has a population of 7.4 million.
250,000 new members per hour
Another interesting factor is that it was established in September 2017. The time that Binance reached this number. According to the report, the vast majority of users (around 7 million people) signed up in just 97 days. This fast pace makes more sense when we look at the perspective of stock market periods. According to an interview with Binance CEO Zhao Chanpeng in January, the exchange is making a quarter of a million dollars an hour with a new registered user.
Binance users are increasing day by day
This week, Binance posted some interesting news while announcing that it is building its own blockchain and upgrading its own cryptocurrency. The new platform, called Binance Chain, will be used for the transfer and trading of blockchain assets. Binance promises to eliminate administrative tasks and speed up transaction settlement using smart contract rules. The exchanges’ own token, Binance Coin (BNB), will be upgraded and now available on the public blockchain.
However, Binance has had several problems since its launch. The cryptocurrency exchange suffered multiple attacks and DDOS attacks that resulted in a stoppage. The stock market was hacked last week. This attack caused turmoil in the crypto space and added to the bearish sentiment in the market.. Earlier this week, Binance exchange promised cash rewards for anyone who finds the hacker.
Financemagnates