Binance CEO expects heavy trading volume, readies platform for action
Binance is doing “a lot of preparation” to ready its systems for higher crypto trading volumes over the next six to 18 months, said Changpeng Zhao.
The CEO expects a surge based on historical patterns and events, including the upcoming Bitcoin halving.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Binance is readying its platform for increased trading volume that it's expecting to hit over the next few months, CEO Changpeng"CZ" Zhao said Wednesday.
"If we look at historical patterns, we want to be prepared for higher volumes," he said during a Twitter Spaces"" event, adding that the company is doing"a lot of preparation" to ready its systems for increased activity over the next six to 18 months. Higher volumes have already started returning in recent weeks, compared to the bleak period that kicked off last November when the FTX exchange collapsed, according to Zhao. Several factors have led to the recent surge, including new filings for spot bitcoin ETFs and the upcoming BitcoinZhao said bitcoin has seen four-year bull cycles based on historical patterns that suggest the next bull run could occur in 2025, as"the year after Bitcoin halving is usually the bull year.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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