The cryptocurrency market is booming, and its development shows no signs of slowing down. Despite the excitement, many are still wondering when the best time to join is, what the best approach is, and how to prepare. Richard Teng, a CEO at Binance, shared his thoughts, providing a different perspective on the frenzy.

In summary, Teng believes it is better to plan ahead rather than act on emotion right now. His recommendation is very simple: do your homework before you jump in. He states that it is important to understand the details of the market and think long-term when considering investment. If you are tempted by quick profits, he suggests you proceed cautiously and plan carefully.

With the increasing interest and fear of missing out (FOMO), many of my friends are asking whether now is the right time to invest in cryptocurrency. Just a reminder: Do Your Own Research (DYOR) and make sure you understand this field before participating.

The numbers tell an impressive story. In just two months, the cryptocurrency market capitalization – measured by the TOTAL index – has seen a surge of 58%, reaching an all-time high of $3.68 trillion.

Alternative coins, excluding Bitcoin (BTC) and Ethereum (ETH), have performed very well, with total market capitalization increasing by 92.41% to $1.16 trillion. Even Bitcoin just reached a record $106,648. These numbers indicate that the sector is rapidly growing and appealing to both new and experienced investors.

Binance runs numbers when FOMO begins

Binance plays an extremely important role in this ecosystem. As the first cryptocurrency exchange to surpass $100 trillion in lifetime trading volume earlier this year, it is clear that it has a significant impact. With nearly 250 million users, $182 billion in total assets, and $26.6 million in daily trading volume, this platform has a very large influence.

These achievements not only show how big Binance is in terms of operations but also indicate that more and more people around the world are interested in digital assets.

Teng's insights are a good reminder that the rapid development of the market and the accompanying price increases come with their risks. His advice to think ahead, rather than just react to market trends, reflects a broader philosophy of approaching with consideration.

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