Binance CEO CZ Predicts DeFi to Outshine CeFi in Upcoming Bull Run
Binance CEO Changpeng Zhao believes decentralized finance (DeFi) can outshine centralized finance (CeFi) during the upcoming bull run.
On September 1, the crypto boss hosted a live X Spaces event, during which he expressed his belief that DeFi has the potential to surpass CeFi in terms of trading volumes.
“I think the more decentralized the industry becomes, the better,” Zhao said, suggesting that it may not be long before DeFi overtakes CeFi trading volumes, as it currently stands at around 5% to 10% of CeFi volumes.
“DeFi is the future; the volume is somewhere between 5% to 10% of CeFi volumes, which is not small right [...] the next bull run may very well make DeFi bigger than CeFi.“
The prediction aligns with recent developments in the cryptocurrency market.
Following legal actions by the United States Securities and Exchange Commission (SEC) against major centralized exchanges Coinbaseand Binance, the trading volume of the top three decentralized exchanges (DEXs) increased by 444% in 48 hours.
The current 24-hour trading volume on DEXs stands at $722,776,226.
Zhao also commented on the recent dismissal of a class-action lawsuit against decentralized protocol Uniswap.
He described it as a positive and logical decision, emphasizing the importance of regulatory clarity.
As reported, on August 30, the judge presiding over the case said he found no grounds to proceed with the lawsuit against Uniswap.
The verdict arrived after an extended legal process leading back to April 2021 that scrutinized the specifics of Uniswap's operations and their alignment with financial regulations.
During the X Spaces session, a user mentioned a judge's decision stating that developers cannot be held liable for the misuse of DeFi platforms.
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