Binance’s CZ Believes The Value Of Crypto Is Increasing, Despite Bear Market

Binance’s CZ Believes The Value Of Crypto Is Increasing, Despite Bear Market
фото показано с : zycrypto.com

2022-7-2 21:54

Changpeng “CZ” Zhao, Chinese-Canadian business executive and CEO of the world’s largest cryptocurrency exchange, Binance, has stated that he believes the value of crypto is increasing. This comment comes amidst the current crypto winter that has seen a lot of digital assets plummet by surprising margins.

CZ admits that crypto prices will dwindle along the way

In an exclusive interview with monthly American magazine WIRED, CZ was asked what he now thinks about the idea of Crypto serving as a hedge against any form of financial turbulence that may occur with fiat currencies, seeing as the crypto market is crashing with the stock market – an occurrence that wasn’t expected.

In his reply, CZ pointed out that the difference between “the price of crypto” and “the value of crypto” should be recognized. He stressed that while the prices of cryptocurrencies fall due to volatility, he believes that the value of crypto, on the other hand, is increasing due to growing adoption.

“As for myself, I do believe the value of crypto is increasing”, he said. “The number of use cases and the number of people using it, the utility value of it, is increasing. But the markets are volatile.” 

When further asked what he thinks Bitcoin’s main value is, CZ highlighted the fact that Bitcoin has a limited supply and hence is anti-inflationary. He admitted that the price is falling right now and noted that being anti-inflationary does not translate to a steady uptrend without any hurdles along the way.

The crypto winter has taken no prisoners

The current crypto winter has taken no prisoners as the prices of most digital assets have touched record lows in recent times. The cold days were especially intense last week as they saw the digital gold plummet to $17k against the dollar on June 18 – its lowest price since December of 2020.

While most assets have been set on a retracement path, the grounds covered have scarcely begun to recover the losses of the past week, but most crypto enthusiasts are hopeful, especially with bullish prospects suggested by several indicators.

As of press time, Bitcoin (BTC) trades at $19k with a 7-day loss of 8%, and Ethereum (ETH) is at $1.069 having gained by 5% in the past 24 hours. Polygon (MATIC) appears to have recuperated, soaring by 6% in the past 24 hours to a price of $0.5.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Binance Coin (BNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $562.5
Капитализация $0 Rank 99999
Цена в час новости $ 216.1 (-100%)

binance increasing crypto value believes cryptocurrency largest

Источник: zycrypto.com

binance increasing → Результатов: 79


Фото:

Venus Protocol Unveils Extra APY, and Revenue Share for XVS Holders as Part of ‘Mission to Venus’ Contest

Binance Smart Chain-based decentralized automated money market Venus Protocol today announced the launch of the Mission to Venus contest with extra rewards and revenue share for XVS token holders. Venus Protocol Announces Mission to Venus Contest In its announcement, Venus Protocol stated it is celebrating the Mission to Venus contest by increasing the rewards distributionRead More

2021-12-30 17:00


Фото:

IOST (IOST) Partners with KokomoSwap to Launch Cross-Chain Bridge to Binance Smart Chain

High-performance, decentralized smart contract platform IOST (IOST) today announced a strategic partnership with Binance Smart Chain-based (BSC) AMM KokomoSwap to foster blockchain interoperability. IOST Partners with KokomoSwap In a bid to cater to the increasing demand for blockchain interoperability solutions, the leading smart contract platform IOST today announced it had partnered with BSC-based automated marketRead More

2021-8-31 12:00


Nexus Mutual Expands Insurance to Cover Binance Smart Chain and Polkadot Users

Nexus Mutual, a firm that provides insurance services in the decentralized finance (DeFi) space is extending its services to cover more blockchain networks. Nexus Mutual To Protect Users From Smart Contract Risks In DeFi The company announced that its newly launched Protocol cover was rolled out to meet the increasing demand of the decentralized finance […] The post Nexus Mutual Expands Insurance to Cover Binance Smart Chain and Polkadot Users first appeared on BitcoinExchangeGuide.

2021-4-27 16:20


Bityard Launched ‘Grayscale Zone’ to Let Users Trade Coins Related to Grayscale Investment Trusts

PRESS RELEASE. As an exchange that offers professional crypto trading services, Bityard has been focusing on the fast-changing market as well as the increasing needs of global investors. In 2020, Bityard, with Binance as the liquidity supplier, started offering crypto spot trading services with more than 30 types of trading pairs. Moreover, Bityard also launched […]

2021-2-4 01:00


Brazilians Are Moving Towards Dollar-Pegged Stablecoins As Alternatives to the Ailing Economy

Brazil is moving to dollar-backed stablecoins as the country's economy continues to ail coupled with the looming uncertainty on its increasing COVID-19 cases. According to a Binance Brazil Representative, Mayra Siqueira, stablecoin traders have quadrupled since the year began with the USDT and BNB tokens dominating the market.

2020-7-9 16:09


Binance CEO Isn’t Worried About Bitcoin, Says “Demand is Increasing”

On February 17, the Dow Jones Industrial Average was near its peak at 30,000, driven by the longest US economic expansion in history. During that time, bitcoin was trading above $10,000. Over the next thirty days, the coronavirus (Covid-19) burst out of China with major outbreaks in Italy, South Korea, France, Spain, Germany, the UK, […]

2020-3-22 03:45


Binance Adjusts Its Fee Structure To Entice Market Makers To Increase Futures Liquidity

The largest cryptocurrency exchange in the world in terms of volume, Binance, has revised its fee program in efforts to reward market makers for increasing futures liquidity CoinDesk reports. In an official press statement released on Monday, Binance revealed that market makers for the Futures program will be awarded a negative fee for various trading […]

2020-2-5 00:28


Binance Coin Price Analysis - Increasing utility within the ecosystem

Binance has masterfully engineered the BNB token to become an all-encompassing aspect in every facet of the ever-growing Binance ecosystem. Because of this, the token has indeed gained a high degree of utility, which may also be seen by some as gatekeeping through the IEO lottery system, DEX listing fees, BEP2 transaction fees, and BEP2 token migrations.

2019-12-20 14:01


Binance Research Indicates HODLing Bitcoin Is the Most Effective Strategy To Increasing Profits

Binance Research says that HODLing Bitcoin is the best strategy and they may just be right, considering Bitcoin mostly goes up only a few days a year. When in doubt? #HODL. Not holding #Bitcoin on Dec, 7 2017 means you would have missed its largest daily absolute gain of $3,608 (25%). The chart below (from […]

2019-11-15 21:35


Фото:

Binance to Launch Staking Service for Suite of Cryptocurrencies

Binance has formally announced they will launch a staking service for networks such as NEO, Ontology, Stellar Lumens, and Komodo, September 26, 2019. Staking has been gaining an increasing amount of attention of late as more and more network look at Proof of Stake (PoS) as a replacement for consensus through the energy-intensive Proof ofRead MoreRead More.

2019-9-27 19:00


Bancor joins Binance & Bittrex in CoinMarketCap’s DATA; aims to enhance accountability, reporting standards

The world of cryptocurrencies has gone through a lot of controversies recently, with the latest one involving exchanges allegedly fudging trading volumes and possibly, manipulating them. To combat this, CoinMarketCap had launched the Data Accountability and Transparency Alliance [DATA], aimed at enhancing accountability and increasing reporting standards across the blockchain industry.

2019-6-12 22:30


дальше еще 30 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

MrBeast faces allegations of crypto insider trading

MrBeast allegedly made $23 million from insider trading in crypto projects. He reportedly used 50 wallets to promote and dump tokens, misleading investors. Evidence includes a publicly shared Ethereum address linked to $13 million in trades.

Bitrue gets Virtual Asset Service Provider approval in Lithuania

Bitrue has received VASP approval in Lithuania to offer crypto exchange services. The company aims for EU expansion by pursuing the Markets in Crypto-Assets license. Lithuania plans regulatory changes to reduce the presence of crypto firms in the country.

Bitpanda eyeing a potential initial public offering (IPO)

Bitpanda is considering a potential IPO in Frankfurt, backed by Peter Thiel. The company reported €100 million in Q1 2024 revenue, rebounding from previous losses. Discussions are ongoing, with a possible timeline for the IPO set for 2025.