Economic recession always make some people rich even though others might be complaining that some businesses are closing, but not all markets.

In the same way, when the cryptocurrency market is highly volatile for sometime, many will think all are losing. This is not true. The two groups of people are :

1) Exchanges: are always in profit, whether those with paid
transaction fee like Binance and those with transaction fee like
Cobinhood.

For the paid exchanges, they constantly generate a trading volume that is sufficient to run their system with ease.This is with respect to the amount paid in terms of deposit and withdrawal fee.

This is why Binance exchange was able to announce a figure that was higher when they used 20% of the amount generated to burn 2,220,314 BNB tokens worth $30 on 15th April,2018 in the 3rd quarterly token burning  even though the market was bearish for most of the cryptocurrencies.

When this value is checked with the first quarterly BNB token burning of 986,000 on October 18th,2017 and the second quarterly BNB token burning of 1,821,586 in Jan 2018,it will be observed that there is a very high gain which does not depend on the market value per say but on the volume of trade in its platform.

For the exchanges with zero transaction fees, they generate good I come buy buying a large volume of a given token or coins, and then introduce traders to it so as to receive its airdrop after trading a given quantity. This will lead to an increase in price due to rise in
demand.

2) Blockchain owners and miners: Many people are of the thought that
the market value of coins will directly affect the income generated by
blockchain owners like Vitalik Buterin of Ethereum.

Even though that the cryptocurrency price might reduce but they generate income through
transaction fees paid to complete transactions in the form gas fee that miners charge.

They also use proof of stake to earn money I just periods by storing their coins and receives reward for not using there coin for a given period. Through this two means, this two groups gains irrespective of the market dip

The post Two Crypto Groups you might Not Know that still gains when the Market is In Red appeared first on ZyCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

237 +