Binance CEO Optimistic of a Significant Bullish Momentum Soon

• After the Merge, Ethereum will be deflationary, says Vitalik Buterin at a conference.
• This week, the Bitcoin (BTC) and Ethereum (ETH) values surged quickly.

The CEO of Binance, Changpeng Zhao, reiterated his positive prognosis for the crypto sector in a tweet on Saturday. He thinks “BUILD” is the way to go instead of “HODL” since the utility’s market share is increasing. Despite some unsuccessful initiatives and a small number of vendors, the number of cryptocurrency net users and institutions is increasing.

The CEO referred to the Internet boom after the 2000 dot com bubble crash as an illustration of this phenomenon. They have grown into bigger and more powerful enterprises that were able to weather the financial crisis. This week, the Bitcoin (BTC) and Ethereum (ETH) values surged quickly over the crucial psychological milestones of $22,000 and $1500, respectively, in the crypto market.

Industry Making a Strong Comeback

Investors are feeling more optimistic about the market after the crypto fear and greed index surged in value from “extreme” to “fear” at 31 points with Federal Reserve officials and governors backing a 75-bp rate increase in July.

To confirm positive market circumstances, Binance CEO “CZ” has joined other crypto influencers. According to a tweet from Binance CEO on July 23, the activities related to fundraising, investment, transfers, micropayment, remittance, NFT, and metaverse are all on the rise. Even if some ventures have failed and some individuals have sold, the fundamentals have not altered. 

Analysts at Rekt Capital, PlanB, and others, including Michal van de Poppe, have predicted a bullish rise if Bitcoin (BTC) remains above $22.8k, the key 200-weekly moving average (WMA) until the end of the month. After the Merge, Ethereum will be deflationary, says Vitalik Buterin at the Ethereum Community Conference in Paris. Prices will rise if the supply of ETH in circulation is reduced.

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