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Two days ago, Binance co-founder He Yi published an article
"If we disagree, then maybe you're right", the heat is high.
The article discusses the following aspects: "Is the cryptocurrency industry going to end?", "Is Binance flat?" and "Rules for listing coins".
As a 10-year veteran in the cryptocurrency industry, He Yi has also felt the recent coldness and downturn in the crypto market.
Some of her friends in the circle are wondering whether the crypto industry has no future, and staunch idealistic players also reveal their anxiety and confusion about the crypto market.
As a new player in the cryptocurrency circle for three years, Chuxiaolian feels that the crypto market is not as lively as it was in the past two years. The same feeling is shared by the 10-year veteran players. It seems that everyone is experiencing the same market, and the market in 2024 is indeed very quiet.
He Yi said that this may be the gradual standardization of the crypto market and the start of following the economic cycle; the wild growth of the blockchain industry may become a thing of the past, replaced by continued slow growth and silent changes to global economic development.
The article said that Binance’s success was due to hitting the right trend and the pulse of the times. Founded in 2017, it took only 8 years for it to become a platform with 200 million registered users, becoming one of the top exchanges in the world.
Binance is not lying flat, it is just continuing to serve the cryptocurrency users in other ways, influencing more crypto players through Earn, Square, Pay, web3 wallet and other methods.
Binance has recently been frequently listing new coins, which has left many old users confused. They originally thought that Binance was the industry benchmark and only high-quality projects were eligible to be listed online, but the recent continuous launch of various MEMEs has broken the halo of Binance.
For example, popular zero-cost projects such as DOGS, CATI and HMSTR on the TON chain, as well as once popular on-chain memes such as TURBO and NEIRO, and babydoge, which was launched in 2021 and has been silent for a long time, have all been launched one after another.
MEME is present in every bull market, and it seems that it is MEME that starts the bull market every time. I wonder if the market will buy it this time and whether it can be hyped up?
Some group members have been in the cryptocurrency circle for many years, and they have also seen that the way the market plays has changed.
Some people say that before 2017, it was all about geek players, they believed in Bitcoin and believed that blockchain technology would change the world; by 2021, it was all about speculative play, and getting rich overnight was common; in the future after 2024, it will be about asset allocation, Bitcoin will gradually become digital gold, and may even become a reserve asset for some countries.
The Central American country of El Salvador has already adopted Bitcoin as legal tender.
Yesterday, Trump bought burgers with BTC at a bar in New York that supports BTC payments, and treated customers there to pizza, expressing his support for cryptocurrency. He has also stated on multiple occasions that if he is elected as the next US president, he will adopt a relaxed policy toward cryptocurrency and support the development of the crypto market.
Cryptocurrency is actually affecting the real economic mode and has more and more usage scenarios. Some people see it and some don’t. Some people believe it and some people doubt it. This is how the crypto world develops.
After the Federal Reserve announced a 50 basis point interest rate cut, cryptocurrencies rose across the board. The current price of BTC is more than US$63,700, and Ethereum has returned to US$2,500. The market seems to have come alive again.
However, the crypto market has its own cycles, and coupled with the current real economic environment, it is not easy to start a new round of bull market in the cryptocurrency circle.
In the long run, there are definitely opportunities in the crypto market. Some people believe that Bitcoin will rise to $1 million in the next 5-10 years, but there are also constant voices of doubt. Those who believe will continue to follow, while those who doubt will just watch the fun and wait for time to reveal the answer.
Everyone sees the world differently, and what happens depends on what you believe;
I believe in cryptocurrency, and I am willing to stay in the market to witness the miracle of 1 million together, even if it goes back to zero.
The above is just my personal opinion, not investment advice. I am Chuxiaolian, and I am paying attention to the crypto market and web3.
