Binance annual revenue grew 10x over the past 2 years, while OKX’s grew 4x

Binance‘s and OKX‘s yearly gross grew 10x and 4x implicit the past 2 years, respectively, portion Huobi’s quarterly gross fell by -98% since the 2nd 4th of 2021, arsenic reported by CryptoQuant.com.

Binance

Binance’s quarterly gross started to turn exponentially successful 2021 and maintained its maturation passim the year. The exchange’s yearly gross reached astir $12 cardinal successful 2022.

Binance quarterly revenue

However, the exchange’s trading volumes started to autumn astatine the extremity of 2022, which besides lowered the estimated quarterly revenue. In December 2022, Binance lost 90,000 Bitcoin (BTC) from its reserves successful a azygous week. According to information from Jan. 9, the speech saw $12 cardinal worthy of withdrawals successful the erstwhile 2 months. The exchange’s trading measurement besides deed its two-months debased connected Dec. 23, reaching $9.39 billion.

OKX

According to CryptoQuant, OKX’s gross recorded 4x integrated maturation implicit the past 2 years.

Burned OKB and volume

The speech burns its autochthonal token OKB oregon repurchases them based connected spot trading interest revenue. The burned OKB tokens recorded an summation of 600% successful 2021, expanding from $12.5 cardinal to $87.5 million. The token’s spot trading measurement besides recorded a parallel growth, reaching astir $3 cardinal connected January 2022.

Huobi

In the meantime, Huobi Global’s quarterly gross has been signaling a dependable alteration since April 2021.

Huobi Global’s quarterly revenue

In April 2021, the speech recorded $1.25 cardinal successful revenue, lone to driblet beneath $250 cardinal by 2022. Based connected the data, the speech is expected to travel adjacent person to zero successful quarterly gross by 2023.

The speech decided to retreat from China successful November 2021, adjacent though it was the ascendant speech successful the Chinese marketplace astatine the time. In October 2022, Huobi’s laminitis sold his shares, which corresponded to 60% of the company. On December 2022, the assemblage was informed that Huobi was struggling with the wintertime conditions and could commencement layoffs.

Even though Huobi’s CEO denied these claims connected Jan. 2, the speech said it was readying to laic disconnected 20% of its unit connected Jan.6. On Jan.5, implicit $60 cardinal worthy of crypto left Huobi’s reserves wrong 24 hours. On Jan.9, Huobi Korea announced that it is separating itself from Huobi Global to go an autarkic entity.

The station Binance yearly gross grew 10x implicit the past 2 years, portion OKX’s grew 4x appeared archetypal connected CryptoSlate.