Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Exchanges
Re: Binance Eyes One Billion in Profits This Year
by
nidacoinlove
on 11/07/2018, 07:55:03 UTC
Quote from: pooya87 on July 11, 2018, 02:45:25 AM
Quote from: FXTradingPro on July 11, 2018, 01:55:42 AM
It is a testament to the strength of crypto markets.  Smiley

nah, it mostly shows how bad this market is if you ask me. it is a small market but a lot of money (trading volume) goes in it and 90% of it is from pump and dumps. and the fact that this exchange grew big and became number one is mainly because the other exchanges that were big and number one turned into shit. a year ago Poloniex and Bittrex were the biggest altcoin exchanges but they both turned bad while Bittrex scammed its users.
crypto market can not be strong as long as it is like this.
Yeah true it can't be practice for longer if the market penetration is so easy for a few individuals or group of individuals to influence the pump and dump whenever they want. On the other hand I don't it's easy to finish the influence of these whales in a short time. It will take decades for the market to come to a normal position.
Also we know that Poloniex and Bittrex made some mistakes or blunders that their businesses went down but at the same time the credit goes to Binance who maintained everything so well that they became  Number One in a single year.