Binance.US CEO Talks on Market Rally - is it the Halving or Grayscale?

With more traditional investors seemingly getting further involved with the crypto market as the resurgence of the assets rally, more people are getting interested in the industry. With all sorts of cryptocurrencies rising over the past week or so, the CEO of Binance.US has said that the climbing markets might have also reacted to the positive news about Grayscale becoming a securities and exchange commission reporting company along with the commissioner’s proposal for the SEC. Speaking in an interview with CNBC, Catherine Coley said that regulators were also getting also starting to support technology as she further added:

“You see grayscale as you mentioned get that clearance through from regulators. You also saw Hester Peirce put forward her proposal for increase regulations around allowing for new activities to take place with kind of a three-year benchmark. Seeing these changes is really important to see the evolution take place and America takes charge.”

Many rallies are following the leading cryptocurrency, which many believe is thanks to the excitement before the upcoming halving in May. They see the significance of different derivatives products with open interest on the CME, which reached its highest mark yet. The biggest digital assets in the space, has been given the title of a ‘store of value’ as people consider it to be a flight to safety or sovereign. 

The CEO further said:

“That’s going to be a different case and scenario for XRP, which is really going to be useful for cross-border transactions, instantaneous settlements, and moving funds cross-border.”

With the use cases of the leading cryptocurrency changing from that of ETH or even Ripple’s XRP, an effort may be visible when the surge of the flagship cryptocurrency occurs.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!