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Binance CEO says that a crypto bullrun is on the cards

Binance CEO says that a crypto bullrun is on the cards

Cryptocurrency Exchanges

Binance CEO Changpeng Zhao voiced his take on the future of crypto while talking to Ran NeuNer, CEO of OnChain Capital and CNBC Africa-based Crypto Trader’s showrunner. NeuNer recently sat down with a number of prominent industry insiders and influencers including VanEck’s Gabor Gubacs and Roger Ver, to talk about crypto.

The Interview

NeuNer and Zhao, better known as CZ, got down to talking about the future of the Industry after discussing Binance’s current prospects for a number of minutes. NeuNer asked CZ what catalysts could be a precursor to this market’s next bull run given how young it is.

CZ answered cautiously, admitting that the question NeuNer asked was “tough” and that he “doesn’t really know [how] to predict which one (catalyst) will be the trigger.”

Zhao noted how unpredictable the market with regards to the unforeseen rise of ICO’s in 2016, which subsequently catalyzed the widespread FOMO seen with retail investors during 2017’s jaw-dropping run. The Binance executive admitted that he did not see the phenomenon coming, even with all his experience in the industry. CZ added that the recent cooldown the ICO market has experienced is a “healthy” sign, as it pushes for projects to actually produce proper products, services, and tokens to cater to the demands of investors.

Zhao then noted that the interest that large institutions have been showing in recent times “may be a really strong trigger,” drawing attention to the launch of regulated stablecoins and institutional products, like Fidelity Digital Asset Services or Bakkt, for example. But he refrained from predicting a single catalyst explaining that he would be hard-pressed to pinpoint a specific event or product given that prices haven’t moved, even with the establishment of these startups.

Zhao concluded his take on the question with the same optimism, saying that “something will trigger” a bull run, “sooner or later.”

Binance’s Secret Sauce

One of CNBC Africa’s showrunners asked chief executive at Binance about the company’s “secret sauce,” to get an insight into the massive success of the company and their ability to remain at the top of this industry for extended periods of time. CZ turned the question on its head when he answered that “there isn’t a secret recipe,” explaining that Binance “may have gotten lucky in its early days.” This luck combined with its decent exchange product and customer service staff, and the lack of competition in the industry at that time, allowed Binance to catapult itself to the peak of this industry.

Binance R&D

Binance announced the launch of Binance Research, an investigative subproject which relays in-depth, objective information on upcoming tokens – presumably, tokens listed on the exchange. This marks Binance’s foray beyond being an enterprise-quality consumer token exchange. The launch note trades: Binance Research is a new pillar of the Binance ecosystem, focused on the creation of institutional-grade research reports with the aim of increasing transparency and improving the quality of information available within the crypto space.

Two reports have already been published under the new banner, and they are in-depth and refreshingly objective. Both the notes contain lengthy footnotes warning against using them for “investment purposes,” although that is arguably the project’s greatest use – getting in-depth information about a potential investment opportunity. However, the informational nature of the reports means that traders will likely still need to consult an ICO rating and review service for further information.

Loom and GoChain

The two reports that have already gone online under Binance Research are LOOM and GoChain. LOOM is a scaling solution for the Ethereum blockchain while GoChain is an independent blockchain which is interoperable with Ethereum and boasts some improvements but not enough to compete with it. The report contains information vital for investors regardless of their technical competence – moving average volumes and more information about the team behind the product. With an appealing presentation, the new Binance Research project will hopefully further ingratiate the exchange with its many loyal users. Binance is one of the first exchanges to launch by funding itself through an ICO vis-a-vis BNB. Cobinhood’s launch based on a similar model proves that the concept is sound, at least for now.

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