Cryptomoints like Bitcoin are the best form of money, says Binance’s CEO.
DeFi are here to stay, despite signs of a bubble,‘ says BinanceNOTÍCIAS CEO
Changpeng Zhao, the CEO of the world’s largest crypto exchange, Binance, said decentralised finance is here to stay, although many DeFi projects show signs of being in a bubble.
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In a November 17 interview with the Russian news agency RBC, Zhao argued that „many DeFi projects are already in a bubble, and I also believe there are some signs of a bubble in the DeFi industry, but that does not mean that DeFi will eventually disappear completely. ”
Zhao went on to say that the DeFi industry has much potential Bitcoin Profit for growth, noting that DeFi still remains popular amid a continued boom in Bitcoin (BTC). He also stressed that initial currency offerings, or ICOs, were called bubbles in 2017, but a number of projects born in ICOs – including Binance – are still going very well:
„Companies create new tokens and issue them as rewards. This is not a long story. But I think DeFi is here to stay. Even now, with Bitcoin’s popularity growing again, DeFi is still popular. We think there is a great potential for growth in DeFi. ”
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However, Zhao said that some DeFi projects „may not last long,“ although the industry provides a number of incentives through DeFi income and liquidity farms.
Zhao also said that cryptomoedas like Bitcoin are the best form of money, defining it as „freedom money for millions of people around the world. The CEO predicted that the market for cryptomorphs has the potential to grow by as much as 100,000%, as digital assets are supposed to become more widely adopted than the decree.
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While he sees a future for DeFi, Zhao has highlighted obstacles for the industry to achieve mass appeal. In August, he said centralized exchanges will remain popular until decentralized exchanges become easier to use.