Binance CEO Changpeng Zhao, also known as CZ believes that a crypto market bull-run is inevitable. He expressed this during a recent interview with CNBC.
Presently, cryptocurrency enthusiasts, HODlers and investors are growing uneasy over the almost year-long bearish stretch. Speaking on CNBC’s Crypto Trader program, CZ expressed that he was uncertain about when a bull-run would occur or what would trigger it.
He also talked about growth figures and highlighted that even though trade volume is down 90 percent as compared to the beginning of the year when the market was experiencing a boom, current volumes are okay in contrast to the situation two years ago. He underlined that his company is still profitable and the sector still very lucrative.
That said, another crypto exchange CEO, Erik Voorhees, of ShapeShift also recently gave some hope to speculators via a tweet, stating that a world financial meltdown would likely trigger a movement towards cryptocurrencies. His doomsday prediction was pegged on the notion that fiat would lose value, hence pushing the masses towards crypto. Cynics of this hypothesis, however, relegated it to complete speculation.
Changing Trends
Most companies are not prepared to hang around waiting for a bull run and so many are beginning to adapt and are now moving into new markets. Just recently, Binance created an extended support platform for corporate account holders in a bid to lure institutional traders and investors.
The platform has greater account limits and includes benefits such as “institutional-grade” research reports. The move is a natural step for the company as current trends dictate that trading platforms open their doors to institutional traders and investors.
It is has been widely reported that institutional investors prefer carrying out trades on over-the-counter (OTC) markets as opposed to exchanges. This is because they offer greater liquidity. They are also the go-to solution for clients looking to avoid moving markets, especially when undertaking huge transactions.
