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In a recent tweet, Binance CEO Richard Teng names a key factor that drives crypto. Crypto is not just driven by its underlying technology but by a bigger factor: people.
In the past, the discussion around cryptocurrency has often tilted toward the technology and prices, with conversations surrounding speed, scalability and increase in prices. But according to Teng, the real engine behind crypto is the people, and he added that builders, traders, educators and regulators all play a role.
"Crypto is powered by people.Builders, traders, educators, and regulators all play a role," Teng wrote in a tweet.
In his tweet, the Binance CEO outlined the various entities shaping the crypto industry far more than its technology. Teng implies that the crypto industry at its current advancement, flourishes because of the people in it.
In a recent announcement, Binance announced that Ethereum (ETH) soft staking is now supported on the platform. After the addition of Ethereum (ETH), Binance Soft Staking now supports a total of 19 tokens, including ETH, BNB, SOL, ADA, TRX, TON, SUI, NEAR, APT, POL, ALGO, IOTA, AXS, EGLD, THETA, DASH, STRK, S and BABY.
Crypto market maturing
The market is maturing, according to Binance's recent report; DeFi and infra remain the backbone, but AI is emerging as a serious contender.
Wall Street firm Bernstein noted that the cryptocurrency's market structure has matured, with a shift from retail speculation to institutional ownership, making downturns less disorderly and potentially extending the current cycle.
Bernstein points to a concentration of ownership among long-term holders and the increasing role of ETFs as sources of stability for Bitcoin, challenging fears that its four-year cycle might have peaked in 2025.
The Wall Street firm believes that Bitcoin might have likely reached a floor and could rise to $150,000 by the end of 2026, being reshaped by a steady shift toward institutional ownership and financing.
U.Today Editorial Team
Dan Burgin
Vladislav Sopov
