Binance CEO is Still Bullish About Crypto Market, Elaborates on Bitcoin (BTC) Trends
- Changpeng Zhao, the CEO of Binance, the world's largest crypto exchange in terms of trading volume, recently shared his views and insights about the digital asset market.
- Zhao's comments came during an interview with host of CNBC's Crypto Trader show, Ran NeuNer.
Bitcoin Price Make A Parabolic Shape
In a recent talk with CNBC’s Ran NeuNer, Changpeng Zhao also known in the crypto community as CEO of crypto exchange, Binance, CZ has expounded on Bitcoin [BTC] trends, his bullish sentiment towards the market, along with plans in place for Binance.
When BTC first started trending upwards, many leaders and crypto fanatics were making their cases as to why this might be. One way of understanding said trend, was looking closely at how the giant was performing. An interesting pattern found, which has been previously reported by Bitcoin Exchange Guide [BEG] was its parabolic shape.
According to reports, CZ shared that the rise in the crypto market was potentially due to FOMO (Fear of Missing Out) on Bitcoin price's upward trend. The giant has gained 110% since talks of the crypto winters finally coming to an end, but eventually was left fluctuating in with 1000$ differences.
All-Time High in Number of Orders Being Submitted
CZ has noticed significant all-time highs being attained. More specifically, he shared that:
“I think we saw more stablecoin deposits in the last few days and not only that, the trading volume per transaction, the number of orders, that are being submitted that has reached an all-time high.”
Speaking on how Binance has been performing, CZ disclosed that the exchange has seen more orders being placed since 2017, adding that while the overall trading volume was less, transactions surged along with the number of new users going up as well.
What’s to come for Binance? Amidst CZ’s bullish sentiment, what’s to come includes a margin trading for Binance, along with a competition in place and a TestNet in the process to assess overall security and rid the system of any presence of bugs.
On June 7, 2019, CZ took to Twitter to express his viewpoint on the recent, outrageous news regarding India’s stance on cryptocurrencies. In particular, a Bill has been passed that anyone participating in crypto activities will be given a jail-term of 10 years to which CZ tweeted:
That Bill in India will really push privacy coin adoption forward.
— CZ Binance (@cz_binance) June 7, 2019
“That Bill in India will really push privacy coin adoption forward.”
NeuNer also tweeted about this new bill and was definitely upset with the country’s decision. More specifically, he shared: “This is so f*cking stupid. One of the biggest industries that could receive the Indian economy in tech and specifically blockchain. What a bunch of idiots.”