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.

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