Binance CEO Boasts Increase in BTC, ETH and Top Coins in Exchange’s Crypto Wallets Despite Bear Market

2018-11-11 21:22

Changpeng Zhao is well known for his work as the CEO of Binance, leading him to be the subject of an interview with CNBC Crypto Trader. During his discussion, he talked about the way that Bitcoin, Ethereum, and other crypto assets are increasing in their holdings on Binance. The bear market seems to have taken over the market as a whole, but Binance wallets are seeing holdings in cold wallets.

Zhao commented, “If you look at our cold wallets, the amount of BTC we hold, and the amount of it, especially for BTC because it’s the constant volume coin, but we have just seen an increase in people depositing Bitcoin’s to our exchange.”

Continuing, he discussed how this statement seems to be apparent for every cryptocurrency with Binance right now, noting that this is a “very good sign” for their platform. Binance seems to be the preferred place for users to keep their Bitcoin right now. However, Zhao spoke about the pattern that he normally sees with these cryptocurrencies, leading users to withdraw their coins around the time that trade volume increases. Right now, it doesn’t seem that the current wallet holders are doing the same.

Zhao added, “When we see an increase in BTC holdings over time, that means most likely people are not moving BTC to us. So, I don’t know if that’s the same situation with other exchanges but that’s a very obvious one for us.”

One of the other issues that Zhao brought up was the way that the Over-The-Counter (OTC) market is evolving, bringing in institutional investments. There are even some speculators in the market that believed that retail investor volume is over, which could be due to the market volume of OTC trading. Zhao noted, “So there’s at least 50% of volumes that’s not being reported on CoinMarketCap but we [Binance] are not very heavy into that business. So, we don’t know the real volumes.”

Right now, predicting what could stimulate the price changes in the market is difficult. However, Zhao believes that the introduction of more institutional investors in the market could be a “strong trigger.”

origin »

Bitcoin price in Telegram @btc_price_every_hour

Binance Coin (BNB) на Currencies.ru

$ 696.72 (-0.03%)
Объем 24H $3.386b
Изменеия 24h: -7.50 %, 7d: -22.13 %
Cегодня L: $689.96 - H: $711.74
Капитализация $95.004b Rank 4
Цена в час новости $ 9.3127 (7381.4%)

crypto binance market ceo bear way talked

Источник: bitcoinexchangeguide.com

crypto binance → Результатов: 126


Власти Казахстана запустили криптофонд Alem Crypto Fund

Министерство искусственного интеллекта и цифрового развития Казахстана сообщило о запуске государственного криптофонда Alem Crypto Fund в партнерстве с Binance Kazakhstan, подразделением крупнейшей криптобиржи Binance.

2025-9-30 11:14


SheVerified: Rachel Conlan, CMO of Binance, on Amplifying Women’s Voices and Pushing Crypto into the Mainstream

Rachel Conlan discusses her journey from traditional marketing to crypto, her strategy at Binance, and efforts to foster inclusivity and education in the industry. The post SheVerified: Rachel Conlan, CMO of Binance, on Amplifying Women’s Voices and Pushing Crypto into the Mainstream appeared first on BeInCrypto.

2024-11-13 21:00


Фото:

BinanceUS Resignations Ignite Fears of Fall Out. How Will Bitcoin Spark Respond?

The crypto trading landscape has witnessed significant events in the past year. One notable occurrence is the string of resignations that hit BinanceUS. This has triggered speculative discussions within the crypto community, with many pondering the implications for the broader crypto market due to the likely co-mingling of assets between Binance US and Binance International. […]

2023-9-28 00:45


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ripple Prime Partners with Hyperliquid to Open On-chain Derivatives to Big Players

Key Takeaways: Hyperliquid just provided institutions with an opportunity to access on-chain derivative liquidity via Ripple Prime. The new arrangement will allow users to cross-margin their crypto with all other The post Ripple Prime Partners with Hyperliquid to Open On-chain Derivatives to Big Players appeared first on CryptoNinjas.

Anti-Strategy ETFs Climb as MSTR Stock Hits Multi-Year Low

Leveraged anti-Strategy ETFs, such as GraniteShares’ 2x Short MSTR Daily ETF (MSDD) and Defiance’s SMST, have reached record highs amid the MSTR stock decline. The post Anti-Strategy ETFs Climb as MSTR Stock Hits Multi-Year Low appeared first on Coinspeaker.