Binance CEO Spearheads Resurgence Amid Crypto Winter

Binance CEO Spearheads Resurgence Amid Crypto Winter

Binance Coin (BNB) has taken just 19 months to break into the Top 10 Cryptocurrencies in the world, and with a 70% market increase in the last month, the next 19 months are looking even more interesting.

Despite only being founded in 2017, by early 2018 Binance had emerged as the world-leading cryptocurrency currency exchange. Twelve months on and BNB today is one of the highest ranked cryptocurrencies in the world. It is an incredible feat that no-one would have predicted. Well, no one except maybe, Changpeng Zhao.

If you have never heard of Changpeng Zhao, better known simply as CZ Zhao, the CEO of Binance, then you probably will, or at least should do, very soon. He has become an increasingly visible figure in the cryptocurrency world, and for good reason. While all the other big players were enduring the Crypto Winter, his coin was doing the opposite. No more clearly has that been felt than in the last week, where BNB saw a 50% market cap gain which placed them as a top 10 ranked cryptocurrency in the world for the first time ever. CZ Zhao’s forward-thinking ideas combined with a heavy online presence may hold the reason behind why Binance is making such forward steps when everything else around it seems to be slowing down.

Method to the Madness

Binance is well-known for its method of burning 20% of their coin every single quarter. This significant lowering of circulation manipulates the concept of supply and demand perfectly, and as the quantity decreases the price increases. The last time this took place was less than a month ago which correlates perfectly with the market increase and is a testament to the technique. The latest burn was worth $9.4 million. Although this was nearly $8 million less than the previous one, this makes sense following the industry’s troubled months of late. If last month’s progress is anything to go by then who knows what the value of the next burn might be.

This is just scraping the surface of Zhao’s innovation though. Most of his ideas currently seem directed at his business going completely autonomous. He has recently launched a live stream surface to connect with his audience, it was here where he elaborated on a couple of new ideas that work alongside one another and will have would be investors chomping at the bit to get involved with Binance.

The first is Binance Chain, their very own version of blockchain, which the second new platform, Binance DEX, a decentralized exchange will be built on. Binance DEX is set for launch next month and takes things one step further than the existing Binance exchange. Its decentralised make-up ensures a higher level of security and personal ownership of private keys. This will likely entice many to choose it over its competitors, especially as Chao has serious form in this field already.

Chao not only believes in the potential of his currency but the industry as a whole. Last weekend on Twitter he stated his belief that we are still only at the “beginning of the beginning” in this industry. So far, this belief is built on solid ground from his perspective and if he achieves everything he’s laying out, he may be the one to lead the resurgence in cryptocurrencies himself.

Recently Similar News

casinoin-promotion etoro-promotion

Latest Guides

Latest News

AvaTrade,Bitcoin,Investment,Market Decrease

AvaTrade Describe Bitcoin as “Safe Haven” From Market Turmoil

After a disastrous week for investment following the huge sell-offs in crucial international markets due to growing coronavirus concern, many are concerned about trading in this current climate. However, Avatrade is arguing the contrary and see the current situation as an opportunity for investors. They had already shared this belief earlier this week when they […]

28 February, 2020
KuCoin,Margin Trading,Promotion

KuCoin Launch 3 Ultra-Low Interest On Leverage Activities

Any traders looking to get involved in some crypto margin trading should make sure they are at KuCoin from today onwards. This is owed to the platform’s launch of 3 Ultra-Low Interest for Leverage Activities on their margin trading service – which was rolled out at the end of 2019. The activities will begin today, […]

27 February, 2020
DeversiFi,Metal Trading,Stablecoin,Tether

DeversiFi Have Listed Tether Gold (XAU₮) In World First Listing

DeversiFi have listed Tether Gold (XAU₮) making them the first non-custodial exchange platform to do so. The formality of the listing occurred two days ago and so this means that any traders hoping to buy, sell or store Tether Gold (XAU₮) can head over to DeversiFi immediately and do so by making use of a […]

27 February, 2020
Investment,IQ Option,Trading

Avoid Trading Mistakes with IQ Option

The world of trading is one that is predominantly about trial and error and in their latest blog post, the trading platform, IQ Option have explained how to avoid the latter. IQ Option are a firm that are continuously helping traders learn to trade more efficiently. Whether that is by informing them about good trading […]

26 February, 2020
AvaTrade,Investment,Market Decrease,Trading

Market Sell-Off Was “Overreaction” Says Avatrade

Yesterday, the US market saw its worse sell-off in two years due to fears that emerged about the Coronavirus spreading. However, Avatrade have stated that traders should not be too concerned about these numbers. Although Avatrade has been somewhat pessimistic about the role of the Coronavirus and what it might do the global economy in […]

25 February, 2020
Binance Research,EOS,Investment

Binance Research Asks, “Is EOS Too Centralised?”

In the latest piece of research from the exchange platform, Binance they have asked whether the highly ranked EOS crypto project is too centralised. Specifically, this question was conceived and analysed by Binance Research who are well-known for their various reports that give an insight into different market trends and what they mean for the […]

24 February, 2020
Coinbase,Coinbase PRo,Listings,Updates

KNC Now live on Coinbase Pro

It has been announced by Coinbase that the Kyber Network (KNC) will go live on the platform as of this week. During the last quarter of 2019, news from the Coinbase camp came at an uncharacteristically slow pace. There were very few updates to the platform and hardly any new listings for traders to embrace […]

23 February, 2020
Investment,IQ Option,Technical,Trading

IQ Option Explain Why You Need a Trading Journal

Keeping track of your trading is a necessity. However, is a trading journal the best way to go about it? Well, according to the CFD trading platform, IQ Option, for most people it is. In fact, the platform describes trading journals as a “must” for a “successful goal-oriented trader”. Indeed, it is clear to see […]

22 February, 2020