Binance CEO Changpeng Zhao (CZ) saidthat the platform is doing “great preparations” for a period of increased trading activity.
In his opinion, this can happen in the next 6-18 months.
“After looking at historical patterns, we want to be ready for higher volumes,” he said.
The head of Binance said that the market has already begun increased activity. In June, trading volume on centralized exchanges rose 14.2% to $2.71 trillion.
Zhao suggested that the next bull market could start in 2025. One of the drivers of the rally will be the Bitcoin halving, which will take place tentatively in April 2024.
If the bear market drags on, then the exchange will have no problems, says Binance CEO. In general, he maintains a positive attitude towards the crypto industry.
“We are still at a very early stage. I think the market still has room to grow,” Zhao said.
CZ sees no danger in the entry of large companies like BlackRock into the cryptocurrency market.
“Anyone who comes to the crypto market attracts additional people. Will such companies compete with us? Yes, probably. But to be honest, look at our user base. The overlap is minimal,” Changpeng Zhao said.
This month, BlackRock, along with other large companies, submitted applications for the registration of bitcoin-ETF.
Recall that on June 5, the SEC sued Binance and Changpeng Zhao. After that, the market share of the Binance.US bitcoin exchange in the United States fell to its lowest level since December 2020.
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