Key Points: According to CZ, the Bitcoin price is a reliable indicator of crypto acceptance over a period of one year.
He is optimistic about the cryptocurrency market in 2023 and believes that many prominent projects will rebound.
Changpeng Zhao (CZ), CEO at Binance, shared his thoughts on cryptocurrency adoption worldwide and what will drive the next wave. He also examined the market for the year 2022. Many bad things have happened this year and many crypto companies have gone bust. He normally considers crypto adoption to be based on bitcoin prices. However, he believes that bitcoin price is a reliable indicator to gauge crypto adoption over the course of a year. CZ believes that DeFi will be more popular than centralized exchanges, as many have been defrauding users. Then there will be a hack and a tragedy in DeFi. Someone will lose a lot in DeFi. Everyone will then return to centralized platforms, creating a vicious circle. When asked about the future prospects of the cryptocurrency market, Binance CEO shared his personal view: Binance CEO shared his personal opinion:
“I will not discuss ICOs at the beginning of 2017. In early 2020, I won’t mention DeFi. NFT will not be mentioned in my early 2021 speech. Six months later, things changed. It is difficult to predict which ‘HOT’ will be. It all depends on the business of construction. Any team or individual who creates a highly relevant, viral product will attract more people. Overall, however, the crypto space is moving in the right direction.
As usual, crypto acceptance will be driven by new use cases that aren’t yet fully realized. Institutional adoption has been discussed since many years. It is finally becoming a reality. It is slowly but surely on the horizon. Binance Custody and Binance Custody have a lot more institutional users than Binance. Clearer regulation of cryptocurrency would encourage more institutions to participate. One obvious use case for bitcoin is to hedge against inflation. Due to bitcoin’s limited supply, more people are becoming aware of it and signing up. He stated that different regions have different use cases. CZ also stated crypto trading is more popular in certain parts of Asia due to the presence of more traders/investors. The North American region is home to more institutional investors. Latin American people are increasingly using cryptocurrency to hedge against inflation. People in Africa are increasingly using cryptocurrency as a way to earn, earn and pay. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comChubbiCoincu NewsTags: bullishcryptoCZCZ binancemarket