Binance boss shared news of record daily inflows from crypto investors
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Head of Binance Richard Teng, who took over from the founder and former CEO of the platform Changpeng Zhao , has made a statement about aOn August 6, Richard Teng spread the word that, according to the data provided by @DefiLlama, over the previous 24 hours, the exchange witnessed one of the largest daily inflows this year. It was an eye-dropping $1.2 billion.
Teng believes that an inflow this large shows a strong level of investor confidence and their enthusiasm to buy cryptocurrencies on the current dip. Aside from that, the above-mentioned day – August 5 – also showed one of the highest trading volumes for Binance this year. This is another indication of the conclusion suggested by Teng.
He also reminded the community about the “significant potential for market fluctuations” due to potential interest rate cuts to be made by the US Fed Reserve and overall geopolitical volatility. The important thing now is to “keep building,” Richard Teng believes.Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects.
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