Binance.US CEO: “Asia Flocks to Crypto During the Coronavirus Crisis”
There are not too many upsides to the coronavirus crisis. In the cryptocurrency world, it seems as if Asian traders are suddenly paying attention to Bitcoin and top altcoins again.
The impact of the coronavirus outbreak cannot be underestimated.
Coronavirus Fears Crate Volatile Markets
It has wreaked havoc on the financial markets all over the world.
Even cryptocurrencies are under a lot of pressure, with most of them losing over 40% in value.
Despite this setback, Binance.US’s Catherine Coley has found something to be excited about.
In her opinion, the coronavirus crisis increases crypto trading volume coming out of Asia.
All of this was shared during a Bloomberg interview last week.
Unlike traditional markets, cryptocurrencies offer some advantages.
They can be traded all day long, even during the weekend.
However, it requires centralized exchanges to not go offline or struggle to provide services.
The current price for Bitcoin and top altcoins also makes them far more affordable.
That can also contribute to a growing demand for crypto assets coming out of Asia.
Continuing this trend will be the main order of business.
It would appear that the overall negative market sentiment is not going away anytime soon.
All stock markets are poised to drop lower, and Bitcoin’s price is on the decline as well.
Image(s): Shutterstock.com
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JP Buntinx, Khareem Sudlow
