Even as the news of the recent Bitcoin price dip fills us with dismay, Changpeng Zhao, the CEO of the Binance cryptocurrency exchange, is still optimistic that the market will have a major turnabout the coming year. Now that 2019 is not too far away, he is convinced that that year will be the breakthrough year for crypto as the adoption will get significantly higher.
In this year, although prices have almost consistently remained low throughout, Zhao has pointed out that the crypto world has taken some really important strides. For example, the Ripple foundation has tied up with Gates Foundation and announced other notable collaborations through the year, therefore although prices have been disconcerting to say the least, the crypto industry at large has not been entirely stagnant.
While speaking in response to an interview taken by The Street, Zhao expressed his optimism and hope that the next year will see a high level of mass adoption of crypto offerings. Zhao was extremely positive about the role played by the crypto exchanges recently and said that the top cryptocurrency exchanges have cemented their position vis-a-vis traditional institutions. He also admitted that the long period of lull the crypto market has gone through over the course of this year has helped Binance and other exchanges consolidate their abilities to handle large transactions. Had the market enjoyed an inflationary trend through the year, the exchanges would have had some trouble in handling the pressure of intraday transactions in massive volumes that would have resulted from the high prices.
The Binance CEO also emphasized on their readiness to launch some unique features soon. Although he did not divulge further details, he said that in order to give a better experience to users, the Binance exchange has constantly been working on weekly goals, so that short-term objectives can be met one by one. The ultimate goal for Binance is to turn the name of the exchange into a verb. This would mean that users can think of Binance off the top of their head as soon as they need one of the services offered by them.