BlockBeats News, February 13th, Binance founder CZ mentioned trading in yesterday’s evening AMA speech: Meme traders need to form their own trading strategy, and meme coins must have a strong cultural attribute to achieve long-term development. If you are a meme trader, you must develop your own strategy. Furthermore, for a meme coin to survive long-term, it must have a very strong cultural attribute. Coins like Dogecoin and Floki have a very loyal fan base. This bear market is different from the past, as it may not always follow a four-year cycle. Traders need to carefully assess risks in a bear market, but in the long run, this industry will definitely be fine.
CZ on industry builders: Developers should not overly concern themselves with short-term market movements, but coin projects should continue to update and engage with the community, regardless of market conditions. In the long run, the market will grow, Bitcoin will perform well, major cryptocurrencies will perform well, and I believe most mainstream public chains today will also perform well. Furthermore, project teams should focus on refining their products, avoid excessive comparisons with other projects. Long-term wins are the real wins; serving users well, protecting their funds, providing the lowest prices, fastest speeds, and the best user experience are the most important. Everything else is just noise.
CZ on himself: Compared to the “richest man” label, what’s more important to me is the contribution to society and the world, which makes me feel good. I feel like I am in a rather fortunate position because I have enough resources to do impactful things. I have the capability, team, funding, and time to invest in tasks. At my age, few people have such luxury — to do what they truly want to do.
CZ on the Chinese community: The Chinese community should unite to expand its international influence. Recently, there has been a lot of fake news, etc., which I think should all be done by Chinese competitors or friendly companies. So, the current lack of unity in the Chinese community should be addressed; everyone should be more united to increase the overall international influence of the Chinese language, which would be better. However, often people are not united enough, and I can’t do anything about it.
CZ on RWA and prediction markets: RWAs are receiving keen attention at the national level, and prediction markets may surge in popularity during the World Cup. Every country I’ve interacted with wants to tokenize some domestic asset. The World Cup is approaching, so prediction markets may be very popular during that time. Moreover, prediction markets will also be hot around events such as elections.
CZ on crypto adoption: CEX and DEX will coexist in the long term because they serve two very different user groups. Currently, global crypto adoption is either deep or less than 1%. Additionally, the African market is a golden opportunity that no crypto company or platform should miss out on. YZi Labs has been heavily involved in Africa from the early stages, and we want to do more.
After the AMA, CZ posted to thank all viewers for tuning in and all donors for their contributions. All proceeds will be donated to the Giggle Academy. According to a screenshot shared by CZ, the livestream received approximately $18,000 in donations.
