Over the past day, Binance CEO Changpeng Zhao and Ethereum (ETH) co-founder Vitalik Buterin; came to the fore with various comments on the market. Here are the details…
Binance CEO warns against FUD
First of all, Changpeng Zhao, CEO of Binance, the world’s largest cryptocurrency exchange in terms of daily trading volume, as we know as Kriptokoin.com, made a post on Twitter. He warned his followers about FUD in particular. FUD stands for “fear, uncertainty, doubt” and means “fear, uncertainty and doubt”. FUD refers to the panic in the financial markets, and in particular, false or misleading information leads to turmoil in the market and manipulation of prices. In his tweet, CZ stated that those who have bought from the bottom due to FUD over the past weeks and those who have given advice on this deserve thanks.
https://twitter.com/cz_binance/status/1614011671957078016
On the other hand, he stated that due to FUD, salespeople and accounts leading to sales should no longer be followed. It can be said that CZ is targeting news sources and influencers that cause panic. CZ even stated that these accounts should be reported and blocked. Because he argues that those who make such suggestions are “low quality information sources”. CZ says that the financial decisions of people advocating selling for FUD should not be taken into account. CZ’s tweet includes exactly the following statements:
If you bottomed out because of FUD, you should thank them [followers]. If you sold because of FUD, unfollow/unsubscribe, report and block. Don’t keep low-quality sources of information that make you poorer. Choice and action are things you can control.
Vitalik Buterin talked about cryptocurrency projects
On the other hand, Ethereum founder Vitalik Buterin talked about the sustainability of Blockchain projects in a question and answer event on Reddit. Buterin argues that there are many projects in the cryptocurrency market, but for these projects to survive, they must offer a new feature to users. According to Buterin, it’s more important that developers don’t go after big things, but instead try to respond to people’s needs. He even made an analogy in this regard and stated that there are thousands of social media platforms, but the most used platforms are Facebook and Twitter.
Apart from that, Buterin pointed out that cryptocurrency projects continue to be adopted in the real world. But according to Buterin, the market still has a long way to go. Buterin states that “bad apples” must be removed from the market for this progress to continue. He believes this sorting process will happen, with something similar to the bursting of the “dot-com” bubble in crypto. He states that his priority is to focus on technology, without making any comments on crypto currency prices.
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