Binance has been one of the cryptocurrency market’s most significant exchanges, and its CEO Changpeng Zhao remains popular in the community, owing to the exchange’s record of introducing new features and transparency.
In a recent segment of Crypto Trader, Changpeng Zhao, CEO of Binance, spoke about the institution’s plan regarding the launch of Binance’s own Futures exchange and the overall development of Binance in 2019.
CZ said that the fast rate of adoption had “honestly” surprised him, stating that the DEX had around 40 projects listed on its network.
“I think the Binance DEX offers many many advantages. I mean in terms of technology, it is faster, cheaper etc, etc but also in terms of economics, when a project is on Binance, we help it market and provide a lot of service around it, which also helps promote the growth of our Binance DEX.”
Further, Ran NeuNer queried CZ about Binance’s new Futures exchange.
CZ stated that they had been working towards the launch of Futures trading as well as Margin trading at the start of 2019, stating that Margin trading was already live on the network. He added that presently, the margin leverage was very minor i.e 3X, in comparison to BitMEX. However, CZ suggested that it would be increased over the new few months. CZ added that Futures were a completely different type of trading and it accommodated a different group of users.
“The exchange having the same combination of spot margin and futures trading on the same platform, which was accessing the same pool of funds was an advantage, since you did not have to trade on Bitmex and then move your money back for spot trading.”
Finally, CZ said that he believes that the market would be witnessing an altcoin run soon. However, he emphasized that not all altcoins would rally at the same time, with only selective ones having strong support surging in the market.
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