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Tron (TRX) Founder Believes BTC has Bottomed. Binance CEO, CZ, is Also Optimistic

The market for crypto and blockchain technologies has a promising future, not only for entrepreneurs but also traders and speculators. Both Justin Sun, founder of Tron and Chanpeng Zhao, founder of Binance, believe this and share their statements a few days ago with their Chinese followers.

In addition to significant growth in trading volume, the number of startups, fintechs and industrial developments based on blockchain technologies has grown considerably, and these two businessmen of recognized presence in the crypto-verse are aware of this.

In an interview for the Chinese news outlet Huoxing24, the founders of Binance Exchange and Tron (TRX) Blockchain shared their vision about the current state of the market, the future of cryptocurrencies and how blockchain technologies can help achieve greater transparency in the field of charity and donations.

Justin Sun: Bitcoin (BTC) Has Bottomed. DApps Are the Future

courtesy: Bitcoin Exchange Guide

Justin Sun, the founder of Tron, explained that he is optimistic about Bitcoin. The man behind the blockchain with one of the most active communities explained that it is difficult for the market to continue falling; however, he foresees a stability cycle of about 3 to 5 years before there is a serious bull run:

“I think it is already the bottom, and the bear market is over. From now on for three to five years, it is now an absolute low. For this year, I think Bitcoin will fluctuate between $3,000 and $5,000.”

Likewise, he mentioned that beyond financial speculation, the most significant business opportunity in crypto verse is in the DApps. According to Sun, there may be an explosive increase in this industry and BitTorrent could be a catalyst for this shift (important to note that the Tron Foundation recently acquired BitTorrent).

“The opportunities for market breakthroughs this year include the explosion of the DApp ecosystem, the large-scale application of the lightning network, and the three major opportunities for BitTorrent’s 100 million users to enter the cryptocurrency market.”

CZ: Focusing on the Bigger Picture

CZ Binance

For his part, CZ, CEO of the most important exchange by traded volume and the creator of BNB, the non-stablecoin token with the largest market cap, explained that he is also quite positive about the market, although he clarified that his optimism points more towards the medium and long term and is focused more on the industry than on pure speculation:

“I can’t make price forecasts. If I make a price forecast, the consequences can be imagined (that is, 49% of the cases are wrong because I am always optimistic). Our goals are generally set even further, five years, ten years, 100 years. In the long run, the development of blockchain technology will certainly be faster and faster. Digital currency will not disappear but will spread to everyone. Therefore, I am always optimistic.”

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Binance CEO Blasts VCs and Calls ICOs 'Necessary'

Zhao Changpeng, the CEO of popular crypto exchange Binance, said that the initial coin offering (ICO) model is preferred to venture capital – even with the risk of fraud.

In a blog post published Monday entitled “ICOs — Not Just ‘Good-to-Have,’ But Necessary,” the Binance chief took aim at the VC world, notably writing that he believes “raising money through ICOs is about 100 times easier than through traditional VCs, if not more.”

It’s a notable statement, considering Binance’s position as one of the world’s largest crypto exchanges. Nor is it perhaps surprising, given its 2017 token sale as well as the exchange’s recent spat with U.S. VC firm Sequoia. As reported previously by CoinDesk, Zhao was sued by Sequoia in Hong Kong for allegedly speaking to other investors while in talks about a possible capital injection to the firm.

In the blog post, Zhao argued that “a vast majority of ‘professional VCs’ have no clue about the projects or field they invest in.”

“Many of them have zero startup experience and don’t even have a basic understanding of the technologies involved their fields,” Zhao went on to write. And despite admitting ICOs result in failure or outright fraud, Zhao still believes that “compared to ‘traditional VC invested projects,’ a larger ratio of ICO projects will succeed.”

What’s more, he argued that most of those putting their money in such tokens are aware that they may not succeed in the long run.

“Most ICOs are new startup projects, and have a high rate of failure, just like in traditional startups. This is nothing new. Most ICO investors already know this. ICO investors are early adopters (and learners),” later concluding:

“The faster movers will reap exponential benefits. Don’t get left behind.”

Image via Piergiorgio Borgogno/Blockchain Revolution Conference/YouTube

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