Binance CEO: next alt-season will be better than the one in 2017
Binance CEO: next alt-season will be better than the one in 2017
Altcoin

Binance CEO: next alt-season will be better than the one in 2017

By Michele Porta - 1 Aug 2019

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Binance CEO Changpeng Zhao, through his Twitter profile, said the upcoming alt-season will be far better than the one in 2017.

Zhao reiterates that the crypto market has matured a lot and that investments in altcoins will no longer be as random as two years ago.

Bitcoin dominates in 2019

A recent report by the CoinShares research team shows that so far the market has not given clear signals indicating an upcoming alt season as assumed by Binance’s CEO.

“Although many altcoins have increased significantly in value compared to their initial price, the ROI of a cryptocurrency is often measured in comparison to bitcoins and almost all altcoins have lost in comparison in this early 2019”.

 

The CoinMarketCap dominance chart shows that bitcoin has gained as much as 15 percentage points of total market capitalisation since the beginning of April, from 50% dominance to the current 65%.

The role of IEOs

As for the recent IEO (Initial Exchange Offering) phenomenon, researcher Larry Cermak has released some interesting insights.

Larry reiterated that, for now, Binance is the platform that has offered the best ROI, perhaps thanks to more users and a better selection of projects.

However, he warns that IEO tokens tend to quickly lose their value once the initial hype surrounding the launch of the new project is lost.

“The data shows that IEO tokens can’t sustain value over the long term. The most rational strategy to maximize profits would, therefore, be to invest in IEOs facilitated by the most successful exchanges and to not hold over the long term. Long term, invest in something else”.

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