Billionaire Changpeng Zhao Predicts Catalyst Will Drive Next Crypto Bull Market

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The CEO of the world’s largest crypto exchange by volume claims that a specific catalyst will trigger the next industry-wide bull market.

In a new letter penned by Binance CEO Changpang Zhao, the billionaire says he believes unique innovations in the Web3 sector of the market will drive the next crypto bull run.

Zhao also says that Binances should continue to focus on protecting customers as well as finding a way to integrate Web3 functions, such as non-fungible tokens (NFT) and game funding (GameFi), into their daily life.

It is essential now that the ecosystem focuses primarily on user protection, but also on innovation and construction in order to introduce crypto and Web3 more deeply into people’s daily lives.

I think data infrastructure and tools will continue to grow and progress and Web3 ownership will evolve, with an increase in non-custodial and multi-chain wallets. Our industry has created a number of Web3 peripheral products that have demonstrated a basic ability to provide utility to users, from NFTs to GameFi.

I believe the next bull market will come from innovation in how these products are used to create unique utility.

Zhao says he expects key developments within the Web3 space to serve as the catalyst for a crypto bull run within the next year or two, adding that it is impossible to pinpoint exactly when this will begin.

It can happen next year or the year after. The exact timing is impossible to know (and also quite irrelevant), so Binance will continue to focus on what is rightfully ours.

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