As the cryptocurrency market continues its impressive rally, BeInCrypto sat down with Haipo Yang, the driving force behind CoinEx, to explore the dynamics between Ethereum and Bitcoin.

The founder of a globally recognized trading platform serving millions of users across the world uncovered his entrepreneurial journey and shared some thoughts on why ETH may soon take the lead in the crypto space. 

Inspired by Decentralization

Haipo Yang’s journey began in 2011 during Bitcoin’s first bull market, where he witnessed the potential of blockchain technology. He recalls that one headline, Bitcoin is the most dangerous open-source project ever created, left a strong impression on him, making him realize Satoshi pioneered a supra-sovereign currency outside government control — something radically new.

«Early financial markets were decentralized — no central banks or excessive regulation, just organic growth. Blockchain finance recaptures this freedom: individuals control their assets, unimpeded and able to freely transact. This liberty enables prosperity. This spirit of freedom compelled me to enter the industry. Personal wealth creation motivated me too, but liberating finance through blockchain was way deeper».

«First of all, we are an exchange that adheres to long-termism. We formulate and implement strategies on the principle of ensuring the sustainability and steady growth of the company, and will not take short-sighted behavior for short-term benefits. Second, we don’t do evil. We always operate and manage the company with the principles of integrity, transparency, and responsibility, and do not do anything unethical. Finally, we always put the interests of users first, hoping to solve problems and needs for users in a proactive manner. Whether it is technical support, customer service, or product improvement, we always focus on improving the user experience to ensure that our products will not “disturb” users and that users can trade and invest in our platform with confidence».

Reflecting on the qualities essential for blockchain entrepreneurs, Yang highlights resilience, responsibility, and keen observation. The crypto field is still full of uncertainties and variables, so entrepreneurs must navigate a lot of challenges while paying attention to the rapid changes in the market and capturing industry trends and opportunities.

Ethereum’s Rise

CoinEx’s founder shares insights on the Bitcoin halving and Ethereum Dencun upgrade, two hottest topics shaping the cryptocurrency market at the moment. While the halving historically correlates with bullish trends, he emphasizes the broader impact of market sentiment and institutional adoption, particularly citing the recent approval of the BTC ETF as a significant driver of market optimism.

«The passing of the BTC ETF has allowed Bitcoin to enter the mainstream world. On the one hand, we can see a large amount of money pouring into the BTC market. On the other hand, it has changed many people’s views and ideas about the cryptocurrency market, which I think may be the more important one. When the SEC gave a green light to ETF, many people’s concept of Bitcoin changed from “scam” to “valuable” because they believed in authority. We are not saying how much trading volume and capital inflow the ETF has brought, but that it has attracted more people to understand and recognize it. This may be the most fundamental reason for driving this round of bull market».

Although Bitcoin is still the most popular asset and has attracted much attention, its development has stalled almost a long time ago. The core protocol of Bitcoin is relatively stable, and there has been no fundamental change since the release of Satoshi Nakamoto. Despite some soft fork upgrades that have little impact on the network, activities are relatively stagnant.

Contrasting Bitcoin’s stagnation, Haipo points to Ethereum’s vibrant ecosystem and fast development. Its transition to a Proof-of-Stake positions ETH as a frontrunner in blockchain evolution. He predicts its potential to surpass Bitcoin, driven by deflationary model and continuous innovations.

«The evolution from PoW to PoS has greatly reduced network operation costs and reduced energy consumption, enabling deflation. In the future, as costs fall further, the deflation rate may increase. At the same time, Ethereum has actively expanded its capacity to continuously meet the needs and technical challenges of new markets, occupying an important position in the blockchain and cryptocurrency industry».

The CEO believes that in this cycle, the market value of Ethereum is likely to exceed Bitcoin because as more people participate, more funds and applications will pour into the ecosystem. Compared with BTC, the long-term growth of ETH is bound to be higher. The increasing trading volume and possible ETF launch, as well as broader use cases in the real world, are signs that investors have to pay attention to.

Addressing Ethereum competitors, Haipo acknowledges Solana’s centralized approach but underscores Ethereum’s established ecosystem and path dependence. Despite emerging challengers, ETH’s resilience and developer loyalty reinforce its dominance.

«Although there have been some competing projects known as “Ethereum killers”, most of them no longer exist. At present, the only challenging project is Solana, but it’s route is incompatible with Ethereum, which is quite centralized on the whole. This centralization is manifested in two aspects: first, the centralization of the consensus network, which is extremely expensive and relies on super nodes; second, the centralization of the entire ecosystem, which depends on the support and promotion of the project party. To be honest, Solana is a little against the concept of blockchain decentralization, and it can be said that it is fragile».

Adapting to Market Dynamics

In his closing thoughts, Haipo reflects on CoinEx’s responsiveness to traders’ and investors’ needs, localization efforts, and product excellence as key differentiators. With a focus on asset quality, global accessibility, and user experience, CoinEx aims to empower people in their crypto journey. As a cross-chain exchange, the platform serves as a gateway to the crypto world, supporting a diverse range of public chains. With initiatives like CoinEx Wallet and strategic foresight, it envisions facilitating seamless access to digital assets and becoming a trusted infrastructure.

«In terms of assets, we adhere to the principle of “Good, Fast, and Comprehensive” to help users filter risks in advance and screen high-quality and high-potential projects. I think that as a global exchange, we attach great importance to the development of business localization and adopt different strategies for different regions and markets. To better serve diversified global customers, we provide support in 16 languages, and 24-hour customer service, and the system covers more than 200 countries. And finally, it is the product. We focus on the polishing of core products and functions, and apply our expertise to solve users’ problems and give them a relaxed and pleasant trading experience».

In 2024, CoinEx prioritizes enhancing user trading experience and providing valuable content through platforms like CoinEx Research and CoinEx Academy. The CEO encourages investors, both new and seasoned, to accept change, stay informed, and seize opportunities, noting the current market is completely different from a few years ago. 

«The whole industry is constantly changing, as well as the hot spots and stories, but many investors still hold the obsolete ideas. Whether in terms of price or assets, they are relatively conservative. I think everyone should regard themselves as new investors and constantly learn to grab the chances the market gives. CoinEx is committed to provide users with high quality and up to date information to help them make informed investment decisions».