Binance Turns Two: A Look Back at The Young Crypto Unicorn

Tony "The Bull" Severino

Last Updated: June 11, 2024 1:45 pm

2 mins read

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On July 14, 2019, Binance will turn two years old. The story of the young crypto exchange’s rise to stardom since its inception has been nothing short of inspirational, seconded to only maybe Bitcoin’s meteoric rise in terms of sheer dominance of the industry itself.

In both such a short period of time and in a fast-paced and ever-changing emerging market like cryptocurrencies, the company became the fastest-ever to achieve unicorn status, and has become a pillar of the crypto community. To celebrate the industry-disrupting exchange’s second birthday, we’re taking a trip down memory lane to highlight what helped make Binance so successful.

Binance: The Crypto Unicorn That Shows No Signs of Stopping

Binance first exploded on to the scene with fireworks, launching shortly after the United States Independence Day holiday back in 2017, on July 14th. Since then the story of how Binance CEO Changpeng Zhao went from flipping burgers at McDonald’s to topping Forbes’ crypto rich list, launching one of the most successful startups in history, and completely revolutionizing the crypto industry.

The timing of the exchange’s launch couldn’t have been more perfect, as if the stars had aligned just in time for Zhao’s crypto venture. Bitcoin was just coming out of an extended bear market, and amidst in hindsight was the asset’s re-accumulation phase, investors had just taken notice that a new bull market was beginning.

Prior to the launch, Bitcoin has just broke above its previous all-time high and it appears the jets had been refueled. After that, Binance rose right along Bitcoin’s meteoric rise, and further skyrocketed right at the height of the 2017 bull market and crypto bubble.

In just its second quarter on the market in Q4, the crypto exchange took in over $200 million in profit. During 2018 – a year of a bear market and waning interest – the exchange was able to generate $446 million in profits.

It’s also reported to be the “fastest profitable startup to achieve unicorn status” in history, according to Chinese venture capitalist San Eng.

The company achieved such a monumental status of becoming valued at over $1 billion at such a young age by innovating in every area, and listening to its customers. The firm has launched its own highly successful cryptocurrency, and is known throughout the industry as a leader in nearly every space it touches.

To best visualize Binance’s incredible rise to dominance, and to celebrate the exchange’s second birthday, we’re revisiting the below animation from Blockchain Capital highlight the trading volume growth across exchanges in the crypto market.

Real cool to see the #bitcoin trading volume per exchange 2017 till today. 🔥🚀🔥 #BTC #trading #volume #cryptolife #thebitcoinfamily pic.twitter.com/gNvhIB8XM6

— ₿ Didi Taihuttu ₿ ALLIN💥 (@Diditaihuttu) April 19, 2019

The video clearly demonstrates how as soon as Binance launched, it became a force to be reckoned with and immediately earned itself a seat among the upper echelon of crypto exchanges. And at only two years of age, Binance is only just getting started.

Featured image from Shutterstock

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.