Binance CEO: cryptocurrency are in short-term decline!

Richard Tang, CEO of the cryptocurrency exchange giant Binance, confidently stated that the recent crypto market drop will be short-lived. He pointed to macroeconomic factors as the cause and emphasized that this price decline does not indicate a long-term negative trend. Tang warned that potential changes in Federal Reserve interest rates and geopolitical tensions could make the market volatile.

Binance shattered its 2024 daily trading volume record despite a 17 percent crash in the digital currency market last week. DefiLlama data reveals the exchange pulled in $1.2 billion net inflows in 24 hours, showcasing robust investor trust.

Tang optimistically reported on the recovery of major token prices and boldly predicted that Bitcoin will surpass $80,000 this year. These encouraging remarks from the Binance CEO could spark a return of confidence in the cryptocurrency market.