Changpeng Zhao, the CEO of Binance better recognized as CZ, has said that crypto still has room to grow by more than a thousand times in the years to come.
Earlier this week, as CCN reported, Ethereum co-creator Vitalik Buterin stated that while the cryptocurrency sector as an industry can grow by a thousand-fold, it is unrealistic to expect the price of cryptocurrencies to see 1,000-fold gains in the future.
“The blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore,” he said.
In 2017, the cryptocurrency sector has seen its most explosive yearly growth rate to date, as major cryptocurrencies like Bitcoin, Ethereum, Ripple, and Bitcoin Cash increased by 30 to 500-fold within a 12-month period.
The industry experienced such an exponential rate of growth in a period in which cryptocurrencies were being introduced to the mainstream for the first time. Major markets like Japan and South Korea demonstrated unprecedented levels of speculation and interest, which ultimately led the Bitcoin price to surpass $24,000 in the cryptocurrency exchange market of South Korea.