The crypto world according to CZ and the performance of Binance Coin (BNB)
The crypto world according to CZ and the performance of Binance Coin (BNB)

The crypto world according to CZ and the performance of Binance Coin (BNB)

By George Michael Belardinelli - 29 Dec 2022

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The market price of crypto Binance Coin (BNB) stands at 230.32 euros, up slightly from yesterday by 0.23%

At the same time, a new boost to BNB‘s run comes with the news that there are more unique addresses on the eponymous Chain than on Ethereum, at least according to the BNB Chain’s developer, who expressed himself on Twitter with these words:

“In 2022, BNB Chain made great strides in onboarding the next billion users to Web3. 

We want to thank our incredible community for standing by our side as we lay the groundwork for an even bigger year ahead.”

To date, BNB Chain is the largest Layer-1 blockchain in the world according to the developer, but data indicate that it is still largely below Bitcoin‘s network in size.

Digital gold boasts more than a billion unique addresses while Ethereum has between 217 million (according to Etherscan) and 233 million (BscScan data).

“Year in Review” is the breakdown of the year that BNB Chain has donated as a guidance and analysis tool for investors, reporting that in May for example, the Chain processed as many as 9.8 million transactions in one day and in October it reached 2.2 million DAU users.

Changpeng Zhao talks about the future: crypto world and Binance Coin (BNB) trends

Binance, like many other players in the exciting world of cryptocurrencies, had to face a very difficult year, which, however, was necessary and not unprecedented. 

This is part of what Changpeng Zhao (CZ) CEO of Binance said on Wednesday. 

In addition to facing a bear market phase and the many beatings in runs such as Three Arrows Capital, FTX, Luna etc. the market has expanded and with it, the regulatory framework and Web3 development have also improved. 

According to CZ, the market will be able to recover in 2023 and develop even more Metaverse, NFT, DeFi and GameFi compartments. 

Yesterday Changpeng Zhao, through a blog post called “A Letter From Our CEO: 2022, the Year of Resilience” expressed his general thoughts on the present and future. 

After the various failures mentioned above, including the latest one by Sam Bankman-Fried, the presence of a bear market closely tied to the poor macroeconomic environment have sunk cryptocurrency prices that have dropped 50% to 90% from their highs. 

Investor confidence is at lows and due to the tightening of the regulatory framework as well as FUD due to the magnifying glass of authorities and media, the sector is under pressure, although when looking a little further into the new year, CZ is optimistic especially regarding mass adoption. 

There is a rush from brands around the world to enter the industry but also the Metaverse, get a foot in the NFTs, touch base with blockchain technology and crypto.

For the CEO of Binance, the coming year will be one of recovery not only for cryptocurrencies but also for forex and the global economy given the predictions of foiled recession in the United States of America. 

The objective to work on is to bring back users who have lost faith in the industry after the series of failures that characterized 2022 and this can only be achieved through transparency.

Binance aims to expand to various countries and resume hiring that was halted during this year of transition by pushing hard on Web3 and blockchain.

As for fears about the collapse of Binance, the world’s largest platform that CZ founded has reassured that even if all investors return simultaneously from their investments on the exchange, there would be no problems as the platform has more than 100% backing for each crypto.

Even in the extreme case of failure, Binance customers’ capital would be safe since “Trust Wallet is completely secure.”

George Michael Belardinelli

A former corporate manager at Carifac Spa and later at Veneto Banca Scpa, blogger and Rhumière, over the years he has become passionate about philosophy and the opportunities that innovation and the media make available to us, in particular the metaverse and augmented reality

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