Binance CEO Changpeng Zhao Predicts Massive Trading Surge On The Horizon

Binance BNB/USD CEO Changpeng "CZ" Zhao stated on Tuesday that the company is preparing for an anticipated surge in trading volume over the next six to 18 months.

During a Twitter Spaces Q&A session, Zhao expressed Binance is making "a lot of preparation" to accommodate increased activity, based on historical patterns, The Block reported.

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

He attributed the recent uptick to several factors, including new applications for spot Bitcoin ETFs and the forthcoming Bitcoin BTC/USD halving event, anticipated to occur in April or May 2024.

Based on historical trends, Zhao suggested Bitcoin experienced four-year bull cycles, which indicated the next bull run could potentially take place in 2025, as "the year after Bitcoin halving is usually the bull year." He did acknowledge the difficulty of accurately predicting future trends.

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

Also Read: Bitcoin Poised For New Bull Run, Market Analysts Detect 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 bullish. 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 the "stamina to last."

Currently, the company is engaged in a legal dispute with U.S. regulators, with both 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 stated that Binance aims to find "the most expedient, reasonable, and mutually agreeable solution possible."

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

Join Benzinga's Future of Crypto in New York City on Nov. 14, 2023, to stay updated on trends like AI, regulations, SEC actions & institutional adoption in the crypto space. Secure early bird discounted tickets now!