Binance CEO Richard Teng Discusses Market Declines, Advises Caution
- 王林Original
- 2024-08-08 12:10:12823browse
Binance CEO Richard Teng has addressed the recent declines in cryptocurrency and equity prices, attributing them to macroeconomic factors and advising against viewing them as long-term negative trends.
Binance CEO Richard Teng has offered his perspective on the recent declines in cryptocurrency and equity prices, attributing them to macroeconomic factors and advising against viewing them as long-term negative trends.
According to Teng, these declines are influenced by the possibility of Federal Reserve rate cuts and ongoing geopolitical volatility, which could continue to impact the markets.
“Reminder to always DYOR [do your own research] & stay informed. Keep building!” he added.
Teng frequently shares his insights on the cryptocurrency market, highlighting the importance of understanding the underlying factors that influence prices.
“Token prices and market caps fluctuate, but the long-term fundamentals of our industry is strong,” he noted last month.
On Tuesday, he shared the following:
“Amid the macroeconomic climate and yesterday’s market downturn, Binance recorded a net inflow of US$1.2 billion in the past 24 hours, according to Defillama’s CEX Transparency metrics.
This marks one of the highest net inflow days of 2024, indicating strong investor confidence. Yesterday also saw one of the highest trading volumes on Binance year-to-date.”
“We are now witnessing a rebound in major token prices, with current market trends validating this,” the Binance executive added.
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