Before discussing Binance, let’s quickly examine a funny scene together.
What caused the Bank Falls?
The Investment’s decline in market value?
Or
Loans out aren’t coming back in?
Or
The Population’s Fear & the actions are taken (going to withdraw cash from the bank immediately)?
The Funny Scenario.
What if we were a bit calmer and understood the solution, thereby not going to withdraw cash in mass?
Don’t you think we’d have averted the current economic dilemma?
(Lock that answer in)
So yeah, let's talk about Binance
Topic: Our Last Defence
Let’s start with Market share;
According to CoinGecko, Binance is the largest centralised exchange, with its market share at 62.1% and spot trading volume surging to $559.8 billion in March 2023. This represents a 2.8% month-on-month (MoM) growth, having recorded $544.6 billion in February 2023.
Between January and March 2023, BUSD's market dominance fell from 35% to 25%, according to Bankles.
This is 1/4th of the stablecoin market share.
Take this out. What happens to the crypto market? A blood bath!
Yes, you can say we don’t need centralised exchanges. You can say Binance is shitty with business deals, but again, I ask you, shouldn’t a business give profit to its team?
Shouldn’t a business person find ways around deals to ensure it grows?
Founder’s Integrity
Changpeng Zhao!
The CZ of Binance
Before we criticise, know that this man moved from grass to grace. He was born into a world of fewer resources, just like you and me, from being a fast-food clerk at McDonald’s to creating automated trading platforms to developing the first #bitcoin blockchain explorer, which we use, to building Binance, which has onboarded 100s of thousands into the crypto market and made a lot of persons like you and I millionaires.
Father is exiled for being a genius that created the biggest crypto exchange in the world.
One key thing, yes, is centralised in its operations but decentralised in its structure so no country can affect you and your businesses.
Let that sink in for a minute.
Holdings & Investments
You might want to see this;
https://www.blockdata.tech/blog/general/where-is-binance-investing-in-blockchain-and-crypto
So yeah, if Binance fails, a lot comes down with it—your favourite protocols.
So if you want this market to last long, you might want to reconsider before you FUD.
Stay focused, and be in the know.
Now, we are 4;
You-I-Cz -Binance
Thank you for reading.
Crypto Engineer Omo