Binance CEO Sees Crypto Prices Correction in 2018
Changpeng Zhao, the founder, and CEO of the world's largest crypto exchange Binance, is confident that this year prices on the cryptocurrency market experienced a correction. But it did not hurt the development of the entire industry and Binance.
In 2018 bears reigned on the crypto market. And the biggest crash occurred in November when Bitcoin collapsed from about $6,000 to $3,300 or even lower. According to Zhao, this is just a price correction. Although there are still quite a lot of speculators on the market, the crypto industry will continue to grow thanks to projects that will show the real uses-cases of cryptocurrencies and thereby accelerate their adoption.
Moreover, Zhao is sure a protracted fall had no effect on Binance’s plans. This year, the company opened one fiat exchange. Over the coming months, Binance may open another 2-3 trading platforms. In general, Zhao’s plans include opening 10 fiat exchanges in 2019.
As for regulation, Zhao thinks many states have not yet decided on this matter. But the crypto industry needs laws that would support innovation and not harm business.
According to Coinmarketcap, Binance is the largest cryptocurrency exchange in the world by adjusted 24H trading volumes. The total volume of transactions concluded on the exchange per day exceeds $1.2 billion.