Binance CEO Richard Teng: Binance Remains Focused on Empowering Community Amid Evolving Altcoin Landscape

During the CEO Connect: June Edition AMA with Binance CEO Richard Teng, when asked about the growth potential for the altcoin market in the current cycle and the future, he responded that historically, altcoin seasons tend to follow strong Bitcoin rallies as traders turn to altcoins to seek higher potential returns when Bitcoin prices stabilize.He shared that the current cycle however, “feels slightly different, amid an unprecedented proliferation of crypto tokens. There’s been nearly a tenfold increase in unique tokens across major blockchains over the past three years. While fresh capital is flowing into altcoins, it’s spread across a much larger and more diverse set of projects. This oversaturation means the 'rising tide lifts all boats' effect we saw in earlier bull markets may be less pronounced this time around."He added: “meme coins have shown their ability to generate short-term excitement, but their impact on Bitcoin’s dominance has been limited. In fact, the current market remains largely macroeconomics and policy-driven, and institutions have been a strong force in the markets, especially driving the resilience of Bitcoin.At Binance, we’re closely watching these trends and remain committed to supporting projects that bring real value and utility to users that last beyond one cycle. Ultimately, our focus is on empowering our community with access to diverse opportunities while helping them navigate this evolving landscape safely and confidently.”