Binance chief executive Richard Teng believes crypto is the future of money and financial services.

In an interview on The Wolf of All Streets YouTube channel, Teng says that crypto “needs two elements to come into play” to enjoy widespread adoption.

“Firstly, you need more regulatory clarity. Because for the early adopters, people are embracing it without clarity. But for mass adoption to come through, they need to understand that the regulators are looking into this space, they feel adequately protected for mass adoption to come through.

Secondly, you need institutions. Because without institutions, if it’s mainly retail play, the price action is going to be extremely volatile.

So with more institutions, with more buy-and-hold users, and investors with a different time horizon, then the price movement will become much less volatile and the market cap will become much bigger over time.”

According to the Binance CEO, increased crypto awareness will lead to more individuals and institutions embracing the industry. Teng says Standard Chartered’s recent move supports his view.

Last month, the multi-national lender announced that it had entered a joint venture with other firms to issue a stablecoin pegged to the Hong Kong dollar.

Explains Teng,

“Stablecoins, for example, you see Standard Chartered being one of the first in terms of traditional financial institutions to say ‘I embrace that.’ Because it makes perfect sense. Instead of doing a payment and sending money overseas, only getting it two days later…

…crypto is instantaneous. You can do minting of stablecoins and send it instantaneously. It solves so many problems. It’s so efficient, it’s so cost-effective that financial institutions will start to embrace different parts of crypto.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The co-founders of the crypto analytics platform Glassnode believe that for Bitcoin (BTC) to enter a strong uptrend, key metrics need to align.

Jan Happel and Yann Allemann, who go by the handle Negentropic, tell their 63,100 followers on the social media platform X that based on historic precedence, three elements must line up for Bitcoin to take off on a sustained bull run.

The analysts include the Bitcoin Risk Signal as a key element, which gauges whether BTC is at risk of a major drawdown in price. Glassnode says it is “based on a set of proprietary indicators, including bitcoin price data, on-chain data, and a selection of other trading metrics.”

“For Bitcoin price to rally with conviction, we need an alignment of three elements (green areas): Market sensitivity:

• Bitcoin correlation with macro and on-chain activity.
• Network activity: network growth and network liquidity.
• Risk off signal: risk signal or at 0. Indicating falling or small chance of capitulation.”

Allemann and Happel’s crypto firm Glassnode says that another key metric suggests accumulation of Bitcoin is starting to emerge as a market trend.

“Since March 11th, Bitcoin’s Accumulation Trend Score has risen above 0.1, indicating some buying during the recent downtrend. While distribution remains dominant, this shift suggests early signs of accumulation.”

Glassnode also says that Bitcoin’s realized cap net position change is suggesting that profit-taking and capital inflows are slowing.

The realized cap net position change tracks an asset’s capital inflows and outflows with positive values indicating accumulation.

“The Bitcoin market continues to adjust to its new price range after experiencing a -30% correction. Liquidity conditions are also contracting in both on-chain and futures markets.”

Looking at Glassnode’s chart, the firm seems to suggest that Bitcoin’s realized cap net position change is up 0.67%. In Bitcoin’s current context, it might indicate a market recovery.

Bitcoin is trading for $86,272 at time of writing, up 3.6% in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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