Wei Zhou, Binance’s chief financial officer , believes that two main factors will favor the adoption of crypto-currencies across populations. In an interview granted to the site CryptoSlate , the leader spoke about the future of cryptocurrencies.
He believes that two factors will promote their adoption:
- the establishment of a robust infrastructure to easily buy them,
- the increase in the number of quality crypto projects.
Over the past 11 months, the crypto-markets lost over 70% of their valuation , from 720 to 206 billion. Meanwhile, as revealed by its CEO Changpeng Zhao ago few days on CNBC , turnover by Binance decreased by almost 90% since January. However, the activity of the world’s first cryptocurrency trading platform seems to remain strong. According Blockchain Transparency Institute , the latter would claim more than 310,000 active users daily, for a trade volume of over one billion dollars.
Especially since the activity of the exchange sites remains much higher than the levels that were his at the beginning of the year 2017. And these figures could reflect only part of the world transactions, since they do not account OTC exchanges which are carried out every day outside the platforms.
In recent months, despite a sharp drop in activity, Binance seems to have made significant progress. We learned well in September that the company would launch a platform fiat-to-Crypto in Singapore. This island, which has recently become one of the hubs of the crypto sphere, offers an accommodating regulatory environment for digital assets.
Yi He , co-founder and marketing director of Binance, told CryptoSlate that his company remained confident about the future of the market, in what looked like a real sermon.
Diving crypto-markets: the Market Cap goes back under 200 billion dollars
This Wednesday, on the eve of the controversial fork of Bitcoin Cash (BCHAC Fork), crypto-markets have fallen sharply. At the time of writing, they were only valued at $ 187 billion – against another $ 212 billion 24 hours ago. This was their lowest level since September 12th.
This collapse comes as many crypto-bulls had posted in recent days their optimism for Bitcoin. They expected his price to surpass his 200-day moving average and begin a recovery to his historic record of December 2017. But their predictions have not come true, despite the expected arrival, in the coming months, of several giants of Wall Street in the cryptosphere.
The BTC seemed thus, this Wednesday, to have caused in its fall all the crypto-markets. While Bitcoin Cash (BCHAC Fork) was the worst student in the top 10 cryptocurrencies, falling more than 18% over the last 24 hours, it was far from the only area to dive. Of the top 100 digital assets, with the exception of stablecoins, only 2 had appreciated against the dollar over the last 24 hours.
In all, the crypto-market Market Cap had lost more than $ 25 billion in just 24 hours.
While the majority of the altcoins were more severely impacted against the dollar than the BTC , the latter had managed to consolidate its dominance of the crypto-markets. This figure now reached 53.4% – against only 35.8% on May 3rd.