CEO Binance, Chanpen Zhao (Changpeng Zhao) disagreed with the statement Vitalik Buterin of the capitalization of the cryptocurrency market. The debate that unfolded last night on Twitter, also joined by the founder of Tron Justin (Justin Sun).
During the interview with Bloomberg on Monday, the Creator of Ethereum, Vitalik Buterin said that times a thousand times of growth have passed and that “the upper limit in sight”. After his statement provoked questions, he posted on Twitter the following entry:
“Just to clarify: I never said that the cryptocurrency ecosystem nowhere else to grow. I said that *thousandfold price increase is impossible*. The growth of current prices in 1000 times would lead to capitalization at ~$200 trillion or the fact that about 70% of the world’s wealth amounted to cryptocurrency”.
He continued, stressing that the further development of the cryptocurrency sector will depend on the actual use in the economy, not from the attention and excitement.
In response to the statement Buterin CEO Binance cited as comparison dollar market:
“I still don’t agree. I would say that the value of cryptocurrencies will increase 1,000 times and more! Only one exit on the level of capitalisation USD will be almost a thousandfold increase (which is only one currency, markedly limited in use), and the market [crypto]derivatives much more.”
Zhao also noted that to compare the performance of traditional markets with the potential of new technologies and industries is a big mistake. He, however, agreed with Baleriny that industry projects with real practical value:
“Let’s finish on a positive note. I agree with this 100%. The penetration will go up. [Need] a network with a large number of real cases”.
After appeared in the media the first reaction to the statement Baterina, he published another tweet in which he mentioned the founder of Tron Justin San. In response to criticism from Baterina, nalkowska on irrationalism and excessive optimism of the entrepreneur, San wrote:
“I really believe that the world’s entire supply of resources go into cryptocurrencies, like a black hole, and will grow further. The cryptocurrency market capitalization will reach USD 10 trillion faster than @Apple and @amazon. View. Time will tell.”
The statement about approaching the “ceiling” of the industry dramatically different from what Buterin said a month ago. During the conversation at a private event in San Francisco, he said that crypto-currencies have not yet revealed their potential.