The crypto market may be going through hell, but it’s no secret that much has been achieved this year. There have been lots of developments meant to boost crypto adoption. Companies like Ripple and Tron Foundation have been doing everything to bring their native cryptos closer to the people. Crypto exchanges, too, have done their part. According to the founder and CEO of Binance, Changpeng Zhao, these efforts will trickle down to bring good tidings in 2019. In his sole view, 2019 will be the year cryptos finally achieve true mass adoption. Zhao was speaking in an interview with The Street.
Binance Is Huge And Still Improving
Binance is one of the largest crypto exchanges in the world, and that puts the exchange in the spotlight especially in regard to the part it plays in the overall growth of the market ecosystem. Zhao said that the company is still working to make the exchange better and cover the full spectrum of the industry. He went on to intimate that Binance already has some tricks up its sleeve in that quest. The traditional market has been overtaken by the likes of crypto exchanges. In Zhao’s opinion, the fact that exchanges have taken back the top spot makes the future brighter, adding that crypto exchanges are ready to set up the ecosystem of the future.
Outlook – The Crypto Space In 2018
Changpeng Zhao also shared his thoughts about the prevailing market situation of 2018, and he was all bullish. Interestingly, Zhao expressed his satisfaction with the market performance this year, saying that 2018 is basically a “build year” – a challenging period to prepare the market for future growth. To expound on that, Zhao confessed that had the bear market not happened, even large exchanges like Binance would have found it really hard to handle the resultant inflated trading volume driven by a bullish market. Speaking of the future, he said that significant institutional funds are likely to flow in from the US, despite Europe enjoying a faster rate of crypto adoption.
Plans To Turn Binance Into A Verb
Like all business entities, Binance has a plan for the future. However, Zhao wasn’t exactly willing to disclose everything yet, although he did give away some clues. He said that the exchange focuses more on short-term goals – sometimes weekly goals. Drawing a parallel from Google, Zhao envisioned a future where Binance turns into a verb. Maybe in the future when people want to do something on Binance, they’ll want to “Binance that.”