Bitcoin [BTC] and Ethereum [ETH] holdings on Binance have increased steadily, says CZ
Changpeng Zhao, the co-founder, and CEO of Binance, spoke about the increase of Bitcoin [BTC], Ethereum [ETH] and other cryptocurrencies holding on Binance and the possible catalyst for the price movements, in an interview CNBC Crypto Trader.
The CEO stated that despite the bear slowly taking control over the cryptocurrency market over the year, the exchange has seen a steady increase in the amount of Bitcoin [BTC] and other cryptocurrencies they hold in their cold wallets. He said:
“If you look at our cold wallets, the amount of BTC we hold and the amount of it, especially for BTC because its the constant volume coin, but we have just seen an increase in people depositing Bitcoin’s to our exchange.”
He went on to say that this scenario holds true for all the cryptocurrencies including Ethereum [ETH]. CZ exclaimed this to be a “very good sign”, stating that users are trusting Binance more to hold their Bitcoin. The Founder further remarked that when the trade volume decreases and…
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