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Altcoin News: Binance CEO Explained the Growth of the Crypto Market by Retail Investor Activity

July 15, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The CEO of the Binance Exchange Changpeng Zhao claims that individual investors continue to play a key role in the cryptocurrency market.

“We have not seen institutions growing faster,” he said in a conversation with Bloomberg. “What we’ve seen is pickup in both places” The number of institutions coming in this industry has not increased in 2019 yet. ”

According to Zhao, the activity of both institutional and retail investors is increasing at Binance. At the latter, this accounts for about 60% of the total trading volume, which corresponds to the levels of the last year.

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Binance CEO also drew attention to the role in the formation of the overall dynamics of margin trading, recently launched by its exchange. During the first day, 10,000 traders took advantage of the option, borrowing a total of $15 million.

“I suppose that by the end of the year most of the bidders will use the margin to one degree or another,” he added. — To be honest, this is a fairly safe tool. Trading volumes will increase, and potential volatility.”

Meanwhile, Binance Coin outperformed the next largest cryptocurrency in terms of EOS capitalization and reached sixth place in the CoinMarketCap list. This happened shortly after the announcement about the completion of the eighth BNB quarterly flaring, during which Binance announced that it would henceforth use tokens reserved for its team.

The Block analyst Larry Chermak, commenting on the Binance decision, said that it was probably due to regulatory considerations.

“Binance removed all references to burning 20% ​​of the profits from its white paper and from the site. In yesterday’s announcement, they said that “they will continue to burn BNB on the basis of the volume of trades” — not on the basis of profits, Chermak writes. — I think they want to show that BNB is an ecosystem token, not a security, and thus make room for it on its new American stock exchange.”

Zhao argues that the analyst is mistaken, and Binance’s decision is caused solely by a desire to allay the concerns of the community about the possibility of selling tokens belonging to the team.

Author: Marko Vidrih



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