Binance CEO Says 2019 Is When Cryptos Achieve Mass Adoption
Although the cryptocurrency market is in a bear trend, there are some figures that believe the market will grow during the next year. During a conversation with The Street a few days ago, Changpeng Zhao, Binance CEO, said that in 2019 cryptocurrency adoption will increase.Changpeng Zhao Believes Adoption Will Increase in 2019
During 2018, the cryptocurrency market operated in a bear trend. Since Bitcoin (BTC) reached its all-time high in December 2017, the market operated negatively. During the last days, this bear market entered a very critic phase after plummeting more than 30% in just a few days.
However, 2019 could be a very good year for adoption, says Changpeng Zhao. He explained that his Binance exchange has a ten-year strategy rather a short-term outlook but they make plans for three months ahead. Binance wants to increase cryptocurrency adoption in the future and help the industry improve.
About it, Changpeng Zhao mentioned:
"We don't really plan a year out. We have a ten-year strategy, but when we actually make plans, we really only plan for three months ahead, as a maximum. Usually like two weeks ahead. Overall, our 2019 will just be to increase cryptocurrency adoption. That's not just for Binance's coin or Binance as a platform but more broadly we want to increase adoption for crypto. Anything that helps the industry get bigger will be good."
At the same time, he explained that they look for teams that want to share the same vision that Binance has. He showed himself very confident about Binance and how they want to build the future of the crypto space.
Binance is one of the largest virtual currency exchanges in terms of trading volume. According to CoinMarketCap, Binance registered $1.24 billion dollars in trading volume in the last 24 hours.
The most important trading pairs at the exchange are BTC/USDT, BCHSV/USDT and XRP/USDT accounting for almost 50% of the total trading volume in the platform. Binance is also planning to launch a decentralized virtual currency exchange (DEX) in the future. The Binance Coin (BNB) will be the base cryptocurrency at the DEX.
Finally, Zhao said that he wants to turn Binance into a verb. This is something similar to what Google was able to achieve.
"I want people to think Binance as a verb," he said. "Just like Google. Google used to be a name; now I "google' something. It should not really be thinking about Binance; it should just be thinking about something you do, and that should be automatically Binance."