Binance CEO CZ Predicts Next Crypto Bull Run
The cryptocurrency landscape has been a rollercoaster of innovation, drama, and uncertainty, but if Binance CEO Changpeng "CZ" Zhao is to be believed, decentralized finance (DeFi) is the future and may soon outpace centralized finance (CeFi). Speaking in a live X Spaces session on September 1, Zhao shared his bullish outlook on the prospects of DeFi, stating that the next crypto bull run could witness DeFi overtaking CeFi in trading volumes.
The rise of decentralized finance has been remarkable. Currently, the total 24-hour trading volume on decentralized exchanges (DEXs) is at $722,776,226. These platforms, which operate without a central authority, have experienced a surge in trading volumes, especially after legal actions taken by the United States Securities and Exchange Commission (SEC) against centralized exchanges like Coinbase and Binance. In a span of just 48 hours, the median trading volume on the top three DEXs jumped by 444%, as reported by Cointelegraph on June 9.
According to CZ, DeFi's trading volume is already substantial, being somewhere between 5% to 10% of CeFi volumes. He expressed optimism that DeFi's prominence would only increase, especially as the industry becomes more decentralized. "I think the more decentralized the industry becomes, the better," he declared.
His outlook is not just wishful thinking. Recent legal developments, such as the dismissal of the lawsuit against the decentralized protocol Uniswap, are leaning in favor of DeFi as well. CZ praised this outcome as "extremely positive, extremely reasonable, logical, and clear," suggesting that it sets a positive precedent for the industry.
CZ is also in agreement with the recent court decision that developers should not be held liable for the misuse of a DeFi platform. He views this as a significant step toward the protection of developers and a positive development for the industry. "Developers writing code, that code is free speech. So the development is really good," he noted.
So, what does this mean for you as an investor or as someone who's interested in the cryptocurrency space? If CZ's predictions hold true, and if recent trends and legal developments are any indication, it might be a wise idea to keep an eye on DeFi platforms. From investment opportunities to technological advancements, the sector is brimming with potential, and according to one of the most influential people in crypto, it's poised to get even bigger.
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Explore why Binance CEO Changpeng "CZ" Zhao believes decentralized finance (DeFi) is the future of cryptocurrency. His insights suggest that the next crypto bull run might see DeFi overshadow centralized finance (CeFi). Don't miss out on what this could mean for you as an investor.
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Binance CEO CZ Predicts DeFi to Outgrow CeFi in Next Crypto Bull Run
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