Exciting Trading Ahead According to Binance CEO

Exciting Trading Ahead According to Binance CEO

Changpeng Zhao, the CEO of one of the leading cryptocurrency exchanges, Binance, has revealed what he predicts will happen in the industry in the coming weeks. Speaking on CNBC’s Crypto Trader, Zhao confirmed that the number of investments and transactions have exploded over the past week.

This statement coincides with a report earlier today confirming an injection of over $38 billion in crypto economy. There is now an estimated $185 billion in a variety of crypto assets in circulation. Various currencies, including XRP, Litecoin, and Ethereum, have all seen double-digit increases during the same period. Bitcoin Cash registered a 100% increase in just a week. In fact, there has been an increase across all major exchanges in trading volume per transaction, number of orders and the number of transactions.

During his interview, Zhao stated that the fast speed at which Bitcoin’s price rose is proof that there are still many investors willing to buy this revolutionary coin. He continues to say that the FOMO, or fear of missing out effect is still clearly evident. Most investors were waiting for the slightest positive sign before they launched into a buying spree.

The CEO of one of the world’s biggest exchanges said that he’s seen a rise in stablecoin deposits, which shows that investors are choosing to diversify their crypto portfolio and seek to minimize the volatility of the market.

Zhao credits Bitcoin’s price increase as the main cause of the surge of the past days. He also states that the Binance team noted an above average increase in user registrations in the past two months, which helped to fuel the sudden growth. Once the spike started, registrations continued to increase, which had a compounding effect on the currency’s value. It is not clear for how long this trend will continue, but many believe it signals the resurgence of the industry. 

Other industry analysts are comparing the recent trend to the performance of the mainstream financial stock market. In fact, the S&P 500 Index regained losses in the past couple of months to reach January’s highs. Whilst these two results are not correlated, there is a growing analysis of how crypto markets act like traditional markets in terms of a country’s political and economic policies and results.

U.S. President Donald Trump suggested the possibility of a quantitative easing program, which normally leads to a stock market surge. Investors seek a bull market to offload their liquid assets into, and a variety of crypto investments are looking more attractive for those ready to diversify their riskier investments. Political pressure and expected changes in the Fed’s lineup could see a continued surge towards the promising returns of crypto.

As a result of the most recent spike, the price of Bitcoin reached $5,200, and whilst analysts expect this value to dip slightly, they forecast that it will remain around the $5,100 mark. 

Ready to join our tribe?

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News


ChangeNOW’s AML Action Lead To The Return Of $15M COMP

Earlier this week, ChangeNOW announced that it was able to identify and return 45,505 COMP back to Compound. The estimated value of this recovery is around the $15m mark. This remarkable achievement is further proof of the effectiveness of the exchange’s Anti-Money Laundering (AML) procedures. In an announcement made on ChangeNOW’s website, the company provided […]

6 October, 2021
CFD Trading Platform,eToro,Trading

eToro Lowers The FTD Minimum Across Several Countries

eToro, the social trading and multi-asset platform, has decided to lower the minimum first time deposit, or FTD. Until further updates, users who sign up today using the link below will be able to fund their trading account with as little as $50. This offer is only valid to users in selected countries. To participate […]

24 September, 2021

ChangeNOW Launches The NOW Tracker App

The young, but fast-growing online cryptocurrency exchange, ChangeNOW, has just announced the release of its latest product. The NOW Tracker is a free asset management app that lets users keep track of their coins and tokens across different wallets. Available on Google Play and the App Store, NOW Tracker is flexible and functional. This solution […]

9 September, 2021

eToro Becomes An Official Partner Of RB Leipzig

The world’s leading social investment network, eToro, has recently announced a new and exciting partnership. According to an announcement on eToro’s Twitter page, the company has become the latest partner of the German football team, RB Leipzig. A two-year partnership agreement has been signed between the parties. Running until 2023, this agreement can be extended […]

24 August, 2021

PSG’s Messi To Receive Part Of His Salary In Cryptocurrency

The Argentinian footballer, Lionel Messi, has made headline news several times in the past few weeks. Following his surprise departure from FC Barcelona, the player confirmed that he will be joining Paris Saint-Germain FC. The move was significantly newsworthy but got even more interest when it was announced that part of the footballer’s salary will […]

23 August, 2021

KingTiger Casino Announces Shut Down

KingTiger Casino has announced that it has ceased all operations until further notice. According to its website, the casino has had to “temporarily close” due to Ethereum network congestion. It is not yet clear if and when this online Bitcoin casino will reopen. Meanwhile, we invite you to check out other Bitcoin casinos from our […]

12 August, 2021

CryptoCasino Announces Temporary Close

CryptoCasino has stopped operating until further notice. According to a landing page on their website, the casino is undergoing an update. There is no information about when the casino will reopen or the reason why an update required the website to shut down temporarily. Players who hold a crypto wallet account with CryptoCasino need not […]

11 August, 2021

Binance Suspends SEPA Inward Payments Until Further Notice

Binance Suspends SEPA Inward Payments Until Further Notice Binance has just announced that it has temporarily stopped all incoming SEPA payments. As a result, users will no longer be able to deposit euros using the primary European payments network. The world’s largest cryptocurrency exchange did not provide any specific information regarding the reason behind this […]

12 July, 2021