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Changpeng Zhao, or CZ, emphasizes the importance of continued innovation and product development in the cryptocurrency sector in his latest announcement.
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CZ’s recent declaration highlights a significant shift from building new projects to offering support for emerging crypto founders.
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“I won’t start a new project. Will help other founders,” Zhao stated, emphasizing his dedication to the community rather than personal ventures.
Changpeng Zhao (CZ) urges crypto creators to keep building, focusing on support rather than new exchanges, amidst Bitcoin’s market fluctuations.
CZ won’t build a new project
In a response to his recent tweet advocating for innovation in the cryptocurrency space, former Binance CEO Changpeng Zhao clarified his future intentions. He acknowledged the ongoing work of cryptocurrency builders despite the skepticism in the community. Crypto enthusiast @Cryptoking reminded followers that when Zhao launched Binance in 2017, many believed the exchange market was oversaturated, a notion quickly dispelled as Binance rose to prominence.
Zhao reinforced this idea, affirming his commitment to assisting fellow founders over launching a new exchange or undertaking another project himself. “I won’t start a new project. Will help other founders,” he expressed, indicating a desire to nurture the future of the crypto ecosystem.
“Bitcoin won’t die,” CZ issues prediction
This optimism from Zhao comes during a particularly volatile period for Bitcoin, which recently experienced a 15.71% decline, dropping from $99,400 to around $83,800 between February 21 and 26. Despite this downturn, BTC has shown signs of recovery, up 3.19% to $86,380 at the time of writing. Notably, Zhao has not liquidated any of his holdings despite the tumult, demonstrating his confidence in the market’s resilience.
During his address, he shared with the community that a recovery is already underway and reinforced his belief in Bitcoin’s enduring value. “Bitcoin won’t die. It adapts and survives,” Zhao stated, showcasing his bullish perspective amid market corrections.
Real bull market about to start – Samson Mow
JAN3 CEO Samson Mow has also weighed in on the market dynamics, expressing confidence that the true Bitcoin bull market is yet to commence. In a tweet earlier today, he urged investors to remain calm and not to succumb to the fear that Bitcoin may descend to $70,000, a common prediction following market drawdowns.
Mow elaborated that historically, analysts often emerge to predict downturns during price corrections, which can lead to unnecessary panic among traders. His insights aim to encourage a more measured approach to market fluctuations, reminding the community of the cyclical nature of cryptocurrency trading.
Conclusion
The prevailing message from CZ and industry leaders like Samson Mow is one of resilience and commitment to innovation in the crypto space. As Zhao steps back from new projects to support emerging founders, the industry remains poised for potential recovery following recent downturns. While market volatility can incite fear, the call to “keep building” echoes throughout the community, encouraging a focus on long-term growth and development.
