Cryptocurrency Exchange

Binance CEO Relieved To See Bitcoin Volatility Once More

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The CEO at one of the largest cryptocurrency exchanges in the world, Changpeng Zhao of Binance has recently made a note on Twitter regarding the volatility of the market moving in the right direction.

The comments from CZ come in response to the Bitcoin price going up by about five percent which pushed it over the $4,000 mark over the past 24 hours. On top of the significant increase in the price of Bitcoin, there were some other big digital currencies which went up along with it.

As reported by Crypto Insider, the CEO welcomed the volatility for the price with open arms whilst also responding to user concerns in regards to Bitfinex’s scheduled maintenance-related downtime. CZ seems to feel responsible for reassuring Bitfinex customers, despite having his own exchange to maintain in the meantime. On the Bifinex official Twitter account, they announced that the trading platform would be going offline on 7th January for up to seven hours.

The management team at Bitfinex’s stated that the exchange is currently going under the completion of “the final stage of [its] data migration to dedicated bare-metal servers, in a move designed to significantly enhance platform speed, security and performance.” It’s worth mentioning that the last time Bitfinex went offline for maintenance reasons, there was some massive volatility in the crypto prices.

As according by Crypto corporate executive, the CEO welcome the volatility for the value with open arms while conjointly responding to user considerations with regard to Bitfinex’s regular maintenance-related period of time. CZ appears to feel answerable for assuring Bitfinex customers, despite having his own exchange to take care of within the meanwhile. On the Bifinex official Twitter account, they declared that the commerce platform would be going offline on seventh Gregorian calendar month for up to seven hours.

The management team at Bitfinex’s explicit that the exchange is presently foundering the completion of “the ending of [its] information migration to dedicated bare-metal servers, in an exceedingly move designed to considerably enhance platform speed, security and performance.” It’s value mentioning that the last time Bitfinex went offline for maintenance reasons, there was some large volatility within the crypto costs.

After surrendering its position because the prime altcoin to Ripple (XRP) a number of weeks past, Ethereum (ETH) is trying a comeback. it’s created large strides last week and has emerged because the prime performing artist among the foremost cryptocurrencies.

During associate interview on nineteenth Gregorian calendar month 2018, CZ Saturday down with Bloomberg TV and aforementioned, “2018 has been a troublesome year in terms of the rating for cryptocurrency, and that i suppose we tend to see plenty of comes not creating it this year. So, it is a correction year. however the technology was there, and that we wish to come out 2019 with a bang.”

CZ was also asked about how willing he would be to expand Binance during the bear market to which Zhao said:

“Our strategy has not changed [because of the bear market]. We’ve launched one fiat exchange [in 2018] … we still want to build 10 more fiat exchanges, and we are also launching our decentralized exchange, which is a very core blockchain technology based exchange. That will also allow much more freedom. None of our plans have changed. We’re still pushing forward very aggressively.”

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