The founder of Binance is optimistic about the future of cryptocurrency

The founder of Binance is optimistic about the future of cryptocurrency

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Answer The founder of Binance is optimistic about the future of cryptocurrency

In a recent interview on CNBC, hosted by Ran Neuner, Binance CEO Changpeng Zhao (CZ) said that the cryptocurrency market and the Binance platform are still in good shape even after nearly 12 months of movement. downward price

Over the past year, the cryptocurrency has lost more than 70% of its value due to the fourth largest correction in its 10-year history. In the interview, Zhao said that the volume of liquidity on the Binance platform has fallen by almost 90% since January due to the correction and partly because of the high level of stability that Bitcoin has shown us over the past three months. Zhao explained:

“Compared to January 2018, the trading volume on the platform has decreased by 90%. We only have a tenth of our trading volume compared to what we had in January. But compared to where it was a year or two ago, we are still trading huge volumes. The business is still good, we are still profitable, and we are still very healthy.”

Read:What impact does the FCA decision in the UK have on Binance’s business?

However, with the steady increase in the volume of active users and the high deposit numbers of Binance, the exchange is still seeing some good volume increase and maintains its strong business continuity.

“Right now, we’re still signing up a steady number of new users every day, and from what we’re seeing, it’s actually pretty healthy. The number of new users and the amount of cryptocurrencies we hold is constantly increasing. So if you look at our cold wallets, and the amount of bitcoins we hold, you will see that we are seeing an increase in the number of people depositing bitcoins into the platform.”

According to CCN, cryptocurrency market data providers such as CoinMarketCap, CoinCap and CryptoCompare report trading volumes for some of the largest cryptocurrencies based on volumes recorded by exchanges like Binance on a daily basis.

Earlier this year, several research firms including TABB Group, an international research firm, reported that the over-the-counter (OTC) market, which is favored by top traders, has seen a doubling in trading volumes, according to Eric Wall, a researcher in the field of trading. Cryptocurrency:

Read:Bitcoin is less volatile than the “S&P 500” stock… Details here

Just read the TABB Group estimate that the over-the-counter (OTC) market has seen a 3-fold increase in the value of trading volumes. This means 1 to 1.5 million are traded daily on the OTC market. Strange that all of this is not visible on the blockchain, which shows how tiny the rate of 100,000 per day is.”

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