Has Bittrex been named as a Unicorn yet ?
In the past, Bittrex had maybe 800 BTC trade per day, with Bitcoin at 600 dollars, half a million trade per day. They take 0.25% commission on all trades, maybe 1200 dollars in commissions per day, half a million in commissions per year.
Lately, with Bitcoin around 4500 dollars, they are close to 100.000 BTC trade, and 60.000 ETH trade, half a billion dollars trade per day. That means 1.25 million in commissions per day, 450 million in commissions per year. They can run the website with half a million in commission a year, so their total cost won’t be very high. I’d say it is all profit.
You could value a company using NPV, the net present value of their yearly profits over a period of 10 years. Their NPV would indicate a company value of around 4 billion dollars.
It would say that easily qualifies them as a ‘Unicorn’ ?