Binance CEO Changpeng Zhao made important statements during the Q&A event held on Twitter Spaces. According to Zhao, in contrast to the negative period that started in November last year after the collapse of the FTX exchange, there has been a noticeable increase in trading volumes in recent weeks. The recent increase is attributed to several factors, including the filing of new applications for spot Bitcoin ETFs and the Bitcoin halving event expected to occur in April or May 2024.
The CEO stated that they are preparing the platform for the transaction volume, which they expect to increase in the next few months. “We want to be prepared for higher volumes when we look at past moves.” Zhao said, adding that they are going through an intense process to prepare their systems for the increasing transaction demands in the next 6 to 18 months.
According to Zhao, the next bull run for Bitcoin could happen in 2025, as “the year after Bitcoin halving is usually a bull year.” However, Zhao said it is difficult to predict future events. Zhao said that they are still at the very beginning of the road and there is still great potential for the growth of the industry, adding:
That’s why I’m always on the upswing. I’m a project developer, so I always have a positive outlook.
Zhao also stated that if the bear market continues, Binance has the flexibility and resilience to withstand tough market conditions.