Major reported $78 million in profits in Q1 2019, up 66% compared to the previous quarter, outlet The Block on April 16.
The claims have been extrapolated by The Block from ’s seventh quarterly coin () burn . Per the report, the 830,000 BNB burned represent 20% of the exchange’s net profits in the first quarter of this year.
The Block notes that this allows for easy deduction of the company’s profits, even though does not release financial reports. The report also notes that in Q4 of last year, the company received about $47 million in net profit.
Coin is currently the seventh-biggest by market cap, according to CoinMarketCap , and reported a loss of nearly one and a half of a percent on the day to press time. According to a on ’s blog, the company has burned 5.82% of the total BNB supply so far.
Recently, a researcher that () and prices could have already hit their lowest point.
As Cointelegraph last week, the annual losses of South Korean crypto exchange Bithumb for 2018 totalled almost $180 million.
Published at Tue, 16 Apr 2019 14:19:24 +0000
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