CEO Of Binance Says 2019 Crypto Adoption Is Going To Be The Golden Year
For Crypto Mass Adoption – 2019 Is Going To Be The Golden Year, According To The CEO Of Binance
The crypto market has been going through what can only be described as a long bearish swipe. But while the markets and, by extension, crypto investors say one thing, it's diametrically opposed to what blockchain and crypto have managed to achieve in 2018.
To put it in perspective, there have been a large number of developments that have taken place which have the potential to boost the rate of crypto adoption. Some examples of these include companies like the Tron Foundation and Ripple, which have been responsible for a great deal of work in bringing their native cryptocurrencies into the hands of more people.
And this isn't just limited to these two, Crypto Exchanges have been helping to push this forward too. Changpeng Zhao, the CEO and founder of the coin exchange Binance, has been explicit in his belief that these efforts will pay dividends in 2019. It's his personal opinion that 2019 will be the year that cryptos finally move from being on the fringe of society, to obtaining mass adoption. This opinion was made clear in an interview he had with The Street.
Binance – The Exchange Is Massive And Still Getting Better
At this moment in time, Binance is known as one of the largest cryptocurrency exchanges in operation around the world, and that puts the exchange in the spotlight, especially when it comes to the longer-term growth of the ecosystem surrounding the markets.
Zhao has stated that the company is still working in order to streamline the coin exchange, allowing it to operate better and cover a wider spectrum of the industry. He continues on to explicitly state that Binance already has a number of tricks up its sleeve in that mission.
The traditional market has been overrun by the likes of reputable crypto coin exchanges. According to individuals like Zhao, that can only be a good thing, especially considering the previous concerns over Over The Counter (OTC) transactions of crypto which negatively influenced prices. To have the ball back in the exchange's court means that the future is brighter because of it, according to Zhao.
He goes on to add that crypto exchanges are not only equipped to create a better ecosystem of the future, but they're taking meticulous steps to realize it.
A Retrospective – The Crypto Space According To 2018
During a number of conversations, Zhao went on to share his thoughts about the current climate for cryptos, especially as it relates to the ongoing situation within the markets of 2018. And while a number of speculators are certain that it will trend lowever, Zhao remains bullish by comparison.
Interestingly enough, when asked about the market, he expressed a feeling of satisfaction with its performance over this year. He substantiated this with his belief that 2018 was effectively a ‘build year', which is one that entails a number of challenges before it can work into future growth.
To further elaborate on this opinion, Zhao stated that, if it weren't for a bearish downturn in the market, even major exchanges, Binance included, would have had a major struggle in handling the inflated levels of trading volume which was driven by the bullish market.
When it comes to the future, he said that there will be a larger amount of institutional funds flowing in from the United States as it becomes a viable avenue. This opinion is in spite of Europes faster rate of adoption.
Plans To Turn Binance Into A Verb
Much like any other business entity, Binance has its plans, and eyes on the future. But while this is the case, Zhao and Binance are the kinds of people and organizations that will want to keep their cards close to their chest. But that didn't stop him from giving away some clues here and there.
He said that the exchange focuses more on short-term goals – sometimes weekly goals. In doing this, Zhao sought to create a future where Binance would become a verb, in the same way as Google is put to use. So, who knows? Maybe when someone asks how they can buy or sell a known crypto, the answer they'll get could be ‘Binance it.'