Cryptocurrencies
Biggest Crypto Exchange CEO Says Retail Still Driving the Rally
- Binance’s Zhao Changpeng points to increased use of leverage
- Exchange signed up 10,000 customers for new margin trading
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While the arrival of institutional demand is one of the most cited reasons by cryptocurrency proponents for this year’s rally, the head of the world’s largest online exchange says individual investors are still playing a key role in driving the dramatic price gains.
“We have not seen institutions growing faster,” said Zhao "CZ" Changpeng, the chief executive of Malta-based Binance. “What we’ve seen is pickup in both places. The number of institutions coming into this industry has not increased that tremendously in 2019 yet."