Binance CEO Confident Crypto Market Will Avoid Long-Term Decline Despite Sharp Correction

Binance CEO Richard Teng believes the recent crypto market crash is likely short-lived. Driven by macroeconomic factors rather than signaling a long-term negative trend. 

Despite a 17% drop in the market cap from $2.48 trillion to $2.04 trillion, Teng reports that Binance has seen significant activity, including a net inflow of $1.2 billion and one of the highest trading volumes of 2024. 

Teng emphasizes the importance of ongoing research and staying informed, while noting a rebound in major token prices. Earlier this year, Teng also predicted Bitcoin would surpass $80,000.

Clever Robot News Desk 7^th August 2024