Changpeng Zhao, the CEO of the world’s largest cryptocurrency exchange Binance, said that decentralized finance is here to stay despite many DeFi projects showing signs of being in a bubble. In a Nov. 17 interview with Russia’s news agency RBC, Zhao argued that “a lot of DeFi projects are already in a bubble, and I also believe that there are some signs of a bubble in the DeFi industry, but this does not mean that DeFi will eventually disappear entirely.”
Zhao went on to say that the DeFi industry has a lot of potential for growth, noting that DeFi still remains popular amid an ongoing Bitcoin (BTC) rally. The executive also stressed that initial coin offerings, or ICOs, were referred to as a bubble back in 2017, but a number of ICO-born projects — including Binance — are still doing great:
“Companies create new tokens, issue them as a reward. This is not a long-running story. But I think DeFi is here to stay. Even now, with Bitcoin’s popularity rising again, DeFi is still popular. We think there is a lot of growth potential in DeFi.”
However, Zhao said that some DeFi projects “may not last too long” despite the industry providing a number of incentives through DeFi yield farming and DeFi liquidity.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 78.4% | 40 | $69 282.05 | -0.31% | 3.36% | $1 370 184 537 016 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 85.6% | 26 | $2 490.79 | -0.85% | 0.45% | $299 917 720 518 | ||
3 | USDT | Tether predictions | 90.8% | 1 | $0.999729 | 0.03% | 0.10% | $120 543 601 366 | ||
4 | BNB | Binance Coin predictions | 93.6% | 4 | $568.12 | -0.79% | -2.54% | $81 865 642 407 | ||
5 | SOL | Solana predictions | 65.6% | 68 | $166.02 | -0.15% | -2.72% | $78 164 737 381 | ||
6 | USDC | USD Coin predictions | 90.8% | 1 | $1.000028 | 0.01% | 0.02% | $34 873 587 642 | ||
7 | XRP | XRP predictions | 94.8% | 5 | $0.509771 | -0.61% | -0.59% | $28 990 019 970 | ||
8 | DOGE | Dogecoin predictions | 58% | 84 | $0.159276 | 0.02% | 15.96% | $23 354 628 694 | ||
9 | TRX | TRON predictions | 90% | 4 | $0.166042 | -0.76% | 0.66% | $14 354 929 269 | ||
10 | TON | Toncoin predictions | 86.8% | 13 | $4.87 | -0.48% | -1.08% | $12 387 960 941 | ||
11 | ADA | Cardano predictions | 94% | 7 | $0.347596 | -2.61% | 4.30% | $12 164 137 154 | ||
12 | SHIB | SHIBA INU predictions | 82.4% | 31 | $0.000017 | -0.99% | 2.41% | $10 263 960 079 | ||
13 | STETH | Lido stETH predictions | 91.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
14 | WTRX | Wrapped TRON predictions | 95.2% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 | ||
15 | WBTC | Wrapped Bitcoin predictions | 94% | 1 | $65 806.83 | 0.78% | -2.68% | $10 083 957 608 |
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