Changpeng Zhao, CEO of Binance, currently the world’s largest cryptocurrency exchange by daily volume, is quite active on Twitter. Some of his movements hint at his stance on the cryptocurrency market. In this article, we will talk about the CEO’s attention to a development for altcoin BNB. Here are the details…
Binance CEO draws attention to altcoin BNB breaking record against BTC
cryptocoin.com As we have also reported, the markets have been going through the “bear market” process recently. At this point, many people seem to have moved away from the cryptocurrency market. The names of some cryptocurrencies that repeatedly broke records in bull markets are not even mentioned at the moment. Along with the overall enthusiasm, trading activity is also on the decline. Changpeng Zhao, CEO of Binance, one of the powerful platforms in the market, shared his thoughts on the bull and bear market in one of his latest tweets. Zhao used the following statements:
There is a lot of noise in a bull market. Strong projects shine in bear markets.
Bull market has a lot of noise.
Strong projects shine in bear markets.
— CZ 🔶 Binance (@cz_binance) September 24, 2022
Zhao posted this tweet after a development about BNB. According to the data, Binance’s altcoin project BNB has set a record against the largest cryptocurrency Bitcoin (BTC). The BTC/BNB pair has never seen the 0.0148 highs before. This made us think that the development that caused Zhao to tweet above was the jump in BNB. As is known, Zhao believes that BNB is a strong project. The latest record could also indicate that the coin is “shining”.
#BNB All Time High 🚀🚀🚀 pic.twitter.com/ouPtnezzZx
— dinshoo udit 😎 (@dinshoo12345) September 24, 2022
Projects that have bounced in the bear market
While Zhao doesn’t explicitly mention strong projects in the bear market, we can look at projects that have been “quietly” bullish lately, using the BNB example. As it is known, the first of these is Ripple’s XRP. XRP has been negatively impacted by the US Securities and Exchange Commission’s (SEC) legal battle with Ripple. This struggle has been going on since December 2020. However, recently, both sides’ request for a “summary decision” gave us hope that we have come to the end of the case. This caused XRP to rise 38.4 percent in the last 7 days.
Among the other coins that are rising in the current bear market, we can show cryptocurrencies such as ALGO, CHZ. The price performance of these cryptocurrencies in the last 7 days has been very positive. It’s worth noting, though, that these coins are below the all-time high they recorded last year. During the bear market, LUNC was also bullish. But the coin belongs to the Terra ecosystem, which collapsed in May. The current price movements are quite volatile. Therefore, regardless of its performance, it is worth paying attention to this coin.
