Changpeng Zhao, the CEO and co-founder of major cryptocurrency exchange Binance, believes that 2018 is a “correction year” for cryptocurrencies, which makes him express general optimism for the future of the industry.
In an interview with Bloomberg, Changpeng Zhao noted that while “price is a very strong attraction” for speculators, the industry will grow thanks to developers who build applications and “real use cases” that drive the further adoption of cryptocurrency.
When asked about how the bear market that had been plaguing traders this year affected the company’s plans, Zhao said that Binance launched one fiat exchange, and plans to launch two or three “in the next month or so,” and ten more fiat exchanges next year.
“None of our plans changed, we are still pushing forward very aggressively,” he added.
Speaking of the increased regulation and government involvement in the crypto space, Changpeng Zhao said that the industry definitely wants clarity and that there is still “too much uncertainty in many countries in the world.” He added that the industry wants “regulation that promotes innovation, and not things that just totally hamper it.”
He concluded by saying that he is still “very confident in the industry.”
Meanwhile, Bitcoin price has corrected higher since it tested its 15-month low earlier this month. Adding a whopping 21% from the last week, the flagship cryptocurrency has zoomed past $4,100 on Thursday morning, while the accumulated market cap of the cryptocurrencies is now above the $130 billion mark.
Other major altcoins are in the solid green zone as well. At the press time, XRP was changing hands at $0.383372 (+3.48%), ETH – $110.21 (+6.44%), while Bitcoin Cash (BCH) impressed the most jumping +36.98% up to $158.93