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REGULATION
by
6 months ago

Binance CEO Richard Teng foresees 2025 as a breakout year for cryptocurrency, memecoins account for about 12% of altcoins' trading volume on Binance

2024-11-19

REGULATION
by
6 months ago

 

Binance CEO Richard Teng expressed optimism for the cryptocurrency industry's future, predicting 2025 will surpass 2024 in adoption and growth.

 

He cited institutional interest, regulatory clarity, and Bitcoin ETF approvals as key drivers, noting Bitcoin ETF inflows already exceed gold ETFs globally. Teng highlighted rising engagement from sovereign wealth and pension funds, calling it transformative for Bitcoin's institutional role.

 

Teng also highlighted the importance of macroeconomic factors, such as controlled inflation and reduced interest rates, which he believes will further bolster Bitcoin's growth.

 

Additionally, he mentioned that memecoins, while accounting for about 12% of trading volume, are helping to attract new retail investors to the market.

 

Talking about the role of memecoins in the growing crypto industry, Teng acknowledged that memecoins appeal to new retail investors entering the market.

 

“Memecoins account for about 12% of altcoins' trading volume, which is quite significant,” Teng said.

 

He described them as a gateway for beginners, saying, “Memecoins are fun, exciting, and relatable to young adults. They're often the first step into crypto for many novice investors.”

 

Additionally, he emphasized regulatory collaboration, Binance's licensing achievements, and blockchain’s potential to reshape industries. He called for balanced regulations to foster innovation and enhance mass adoption of digital assets.

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