Binance CEO Speaks: This Altcoin Made 1,800 Percent!

Binance CEO Changpeng Zhao stated that Binance wants to bridge the gap between cryptocurrencies and classical finance. Following Changpeng Zhao’s announcement, some metrics for the exchange’s local token BNB Coin (BNB) increased. Here are the details…

Binance wants to combine classic finance and crypto

After Changpeng Zhao’s comments, the processes of BNB Coin investors and whales increased by almost 1,800 percent on Wednesday. As we have also reported, Binance is the largest cryptocurrency exchange. It also operates the world’s fourth-largest cryptocurrency, BNB. However, Binance’s CEO (CEO) has indicated the company’s intention to acquire banks. For this reason, the company seems not to be content with just being the “biggest cryptocurrency exchange”. According to Bloomberg’s report, Binance CEO Chengpang Zhao (CZ) is now aiming to buy banks.

In an interview at the Web Summit conference in Lisbon, CZ said that the company plans to bridge the gap between cryptocurrency and the classical world of finance. CZ stated that Binance may consider investing in a bank or potentially buying it outright. This will be an opportunity for the company to also benefit from the increase in the market capitalization of the bank following a settlement with Binance. Zhao also used the following words:

We noticed that banks attract a lot of users when working with us. This is why the valuation of some banks is increasing exponentially. So, why don’t we invest in them as well, so we can capture some of the equity upstream.

The stock market is not urgent.

But Binance CEO also talked about other ways to bring the two financial worlds into one. Individuals with local licenses and payment service providers are also potential partners Binance is investigating, CZ said. He didn’t mention any random urgency in his plans. This alone will be an opportunity for Binance to strengthen its currently very active user base.

Binance Coin attracts investors

Following a 21 percent drop in prices over the past two weeks, BNB tested the supplement at $299. However, according to experts, the activities of Binance Coin investors and whales can protect the altcoin from price decline. On Wednesday, on-chain processes recorded a 1,798 percent increase in process volume in the coin. The cost of the total process volume increased to $79 million. But according to some, this could have been a panic move in reaction to BNB’s red candle on November 1.

Regardless, the price of the cryptocurrency is determined by the presence of investors in the market. According to analyst Aaryamann Shrivastava, BNB can continue its rise supported by its holders. In this case, the coin will approach the $332 resistance, which will be the first profit mark in six months.

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