Benance CEO Richard Teng said that instability would be less relevant as the crypto market mature and projects grow larger.
Teng, who made Binen’s founder Changpeng Jhao successful as CEO, encouraged Crypto users Season The market slipped, focusing on oongoing instability and skill-building.
Over 24 hours, over $ 2 billion in liquidation, submerged the prices of cryptocurrency, while the total digital asset market cap fell 6.5% to $ 3.3 trillion.
Major altcunes such as Bitcoin (BTC), Etreum (Eth), and Ripple’s (XRP) were lost as 4% – 15% between the liquidation cascade. Tokens such as Solana (Sol), (BNB), Dogin (Dogin), and Cardano (ADA) also deer under pressure to sell.
“It will also pass. It is helpful to feel that this recession is temporary,” Teng wrote on his personal X page, addressing the General Crypto community. He said that digital asset investors have experienced many drawdowns in previous market cycles. Has done
Teng argued that markets would increase volatility and eventually show the trajectory upwards in the future. Binance CEO advised users and traders to be upcised during the market downtime, which is a step to “prepare opportunities”.
As the crypto market matures, instability will decrease with an anxiety. The instability is associated with the size of the market – assets with small market cap are more unstable. As the digital property receives utility value, instability will be less than an anxiety. This is the cause of optimism!
Richard Teng, Benance CEO
On 3 February, Crypto Bazaar saw its largest single-day liquidation incident after the 2020 covid reform and the FTX’s fall occurred. However, bybit CEO Ben Zhow believes that the liquidation was more than $ 2 billion.
