Binance Exchange launched their ICO in early July (2017) and has experienced exponential growth ever since, nailing down the token-based exchange model better than any before.

For a quick look into the Binance Exchange platform, below is what I believe is an explainer-video submitted by Hypercube Studios to a video competition put on by the exchange — VERY well done, concisely explaining the platform:

Vimeo Link for Hypercube Studios Binance Video

The large infographic above is a bit hard to read so I’m going to break-down each section in strips to make it easier to read. Notice how these are the updates for their 5-months of operating as an exchange — Nov. 15th-Dec. 14th.

Binance has reached Top 3 in this short time period, but I want to highlight that the exchange may have at one point been the #1 exchange in terms of 24h volume. As I was tracking Binance’s 24h volume a couple weeks ago, the highest I saw while refreshing their CoinMarketCap page was $4.5 billion and they are casually trading at $2,470,175,294 24h volume as we speak. So the $2.1b figure in the infographic has been more than doubled.

According to CoinMarketCap, Binance’s BNB token was trading at $3.00 as of Dec. 14th, 2017. Today, as I type this article, Binance’s BNB has a price of $6.95 — this means BNB’s market capitalization has more than doubled again since just 11-days ago, now sitting at $687,878,972.

Continuing with the infographic narrative, we can see that Binance has quite a diverse user-base with users coming from all over the world with a majority coming from the United States.

I really do feel that it is necessary to point out that Binance reached 1.5 million users within just 5-months. Similar to the previous highlights, Binance has already exceeded 2 million users in the 11–days since this infographic update. I say this because I’m now seeing exchanges like Exmo and CEX talking about their ‘1-million users reached’ after Binance has already been talking about their user-base statistics — those other exchanges have been around for years and Exmo is currently running their own ICO to integrate a token into their business model, effectively following behind Binance.

On top of all of this, they have also upgraded the desktop client to use the Binance Exchange through — not all exchanges have a desktop client for download.

What’s more, the ‘Binance Launchpad’ feature has been added, allowing Initial Coin Offerings (ICOs) to go straight to market — this can be most closely compared to the way an Initial Public Offering (IPO) works in the world of traditional finance. Seeing this feature installed further reinforces the fact that Binance is already an institutional-standard cryptocurrency exchange platform to trade cryptocurrency on.

I mean, everything went completely fine with the Gifto Official ICO — so well that it sold out in 2-minutes. This is also key because over 235 ICO’s were launched in 2017, raising over $3.7 billion in aggregate to date.

I don’t know what time period the 22 new coins/tokens were listed in, but they bring Binance’s total trading pair offering to 194. This is an important metric to look at because not all exchanges have an expansive offering — specially exchanges that have gotten up and operational, while growing this quickly.

Quite possibly one of the most exciting actions Binance has taken on its way to becoming the top cryptocurrency exchange was their various trader competitions! They gave away multiple cars including a brand-new Mercedes Benz c180L and Jaguar XF. Those are just past competitions — Binance is currently running trading competitions that will give away:

Time New Bank (TNB) tokens — 1st place = Porsche Panamera . 2nd place = Mercedez-Benz Smart Fortwo .

— 1st place = . 2nd place = . Monaco Card (MCO) — 1st place = Lamborghini Huracan RWD Coupe.

The two mentioned are live and the Tron trading competition just ended in which Binance gave away a 2018 Maserati 3.0T Levante Classic and Mercedes-Benz Smart Fortwo.

Oh, we can’t forget Binance’s competitive referral program! As of the Dec. 14th infographic, the top referrer had earned roughly $333,000. As of December 25th, 2017, the top Binance referrers have earned approximately:

63.69082344 BTC = $891,671

30.66260902 BTC = $429,276

28.548836 BTC = $399,683

Not only is Binance bringing a new, higher level of standards to the way exchanges treat traders, but they are quite literally bringing prosperity to the entire community by constructing this synergy-wrapped business model.

Token Burning: Things Are Heating Up

Binance’s business model includes a buy-back and burn feature to increase the scarcity of BNB in existence. On their ultimate journey to becoming a decentralized exchange, Binance offers traders a fee-discount for using the BNB to pay exchange fees with. Binance will repurchase 50% of the total supply of BNB in existence to burn and will do so with 20% of quarterly profits. Per this update, Binance’s first quarterly token burn resulted in 986,000 BNB tokens burned.

Keep in mind, Binance had not even hit $1 billion in 24h volume as of their 1st token burn. The BNB was much cheaper during their last burn, I think under $2, so while we may not see as high a number, it’s safe to say the team has built an extremely powerful scarcity/demand mechanism for the BNB.

This leadership team gives us so many reasons to support this project and I believe their ultimate goal of becoming a decentralized exchange speaks volumes about the innovation this project brings to the blockchain community. I am nothing short of excited to see what the next announcement is from the Binance leadership team!

Happy Holidays to You and Yours From CrowdConscious

Merry Christmas and happy holidays to you all. I do this because I truly believe in blockchain technology. That it is ushering in a new era of positive change that is already helping people across the globe. If it weren’t for Binance, new projects might not have this greater level of liquidity critical in picking up traction in any early project — Binance provides them with the platform and over 2-million pairs of eyes. ICO 2.0.

The best way you could help contribute to my success is by sharing this and/or signing-up for an account on Binance. I’m on a journey to make a living off of crypto so that I can continue covering innovative projects full-time! Thank you and stay tuned for your next bit of crypto — next article will include a feature of Kucoin Exchange!

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