Binance CEO Changpeng Zhao predicts massive trading surge on the horizon [Advance Cash ]

Binance Ceo Changpeng Zhao Predicts Massive Trading Surge On The Horizon

Benzinga- Binance (CRYPTO: BNB) CEO Changpeng "CZ" Zhao said on Tuesday that the company is preparing for an anticipated increase in trading volume over the next six to 18 months.

During a Q&A on Twitter Spaces, Zhao said Binance was doing "a lot of preparation" to adapt to increased activity, based on historical patterns, The Block reported.

Zhao noted that trading volumes have already started to rebound in recent weeks, following a slowdown that began last November with the crash of the FTX exchange.

He attributed the recent rise to several factors, including new applications for spot Bitcoin ETFs and the upcoming Bitcoin (CRYPTO:BTC) halving event, scheduled for April or May 2024.

Based on historical trends, Zhao suggested that Bitcoin has seen four-year bull cycles, indicating that the next bull run could potentially be in 2025, as "the year after Bitcoin's halving is usually bullish year". He acknowledged the difficulty of accurately predicting future trends.

Despite the uncertainties, Zhao maintained a positive view of the future of crypto.

Also Read: Bitcoin Set for Another Bull Run, Market Analysts Spot Encouraging Indicators

"We're still very early. I think the industry still has a lot of room to grow," he said.

"So I'm always optimistic. I'm a builder, so I always have a positive outlook on things."

Zhao also reassured that even if the bear market persists, Binance has "stamina to last".

Currently, the company is engaged in a legal dispute with US regulators, the Commodity Futures Trading Commission and the Securities and Exchange Commission filing lawsuits against the exchange and Zhao for alleged violations of federal laws.

Regarding the ongoing legal issues, Zhao said Binance aims to find "the fastest, most reasonable, and most mutually agreeable solution possible."

Read Next: Spot Bitcoin ETFs Could See SEC Approval Soon, Bernstein Analysis Suggests

Join Benzinga's Future of Crypto in New York on November 14, 2023 to stay informed on trends like AI, regulations, SEC actions, and institutional adoption in the crypto space. Book discounted early bird tickets now!

© 2023 Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Get the app

Join the millions who stay on top of the global financial markets with

Download now