Changpeng Zhao: "The DeFi industry will continue to evolve"

The head of the cryptocurrency exchange Binance Chanpen Zhao counts, that the Defi industry will continue to develop, Despite the signs of a “bubble” for many projects.

Zhao said, that despite the hacking and closing of many projects in the Defi industry, This industry will develop and further, since it has great potential for growth. The head of Binance mentioned the ICO era at the end 2017 - The beginning 2018 of the year. At that time, many called the “bubble” the primary placement of tokens. However, there are many startups, launched at that time, who still work successfully. Binance is one of these projects.

The same applies to decentralized finance, which began to develop rapidly in 2020 year. Liquidity suppliers and “profitable farm” provide high annual percentage, However, according to Zhao, Not all of them will be able to hold out for a long time in the market. Nonetheless, Some Defi projects will still withstand competition.

Even with the growth of the Bitcoin course, the Defi industry remains popular. According to Defi Pulse, To date, the volume of crypto assets, Defi blocked in the protocols, It is $12.6 billion.

In general, Zhao expressed an optimistic attitude towards the cryptocurrency industry, said, what's in the nearest 10-20 for years she will become one of the fastest developing spheres. Binance founder called Bitcoin and other cryptocurrencies the best form of money, which provides freedom to millions of people around the world. At the same time, Zhao did not predict, how high the bitcoin course can rise, And will he be able to remain the best digital asset for many years, since it depends on many factors.

Last month, Zhao said, that centralized financing will help the development of Defi and will contribute to the massive use of cryptocurrencies.