On Sunday, the BNB/USD rate rose above the $255.50 uptrend line, and candle closes below this support price may still indicate a bearish BNB price outlook. The largest exchange in the world, Binance, is reportedly in trouble. For example, there is a money laundering investigation, but there are also many users withdrawing money since last weekend.
In addition, the market is in a phase of FUD (fear, uncertainty and doubt). The largest cryptocurrency exchange in the world is accused of running out of money, causing panic in the crypto sector. The value of all cryptocurrencies combined has decreased by 2.50% in the last 24 hours.
BNB most used blockchain in 24 hours despite Binance FUD
FUD causes panic around Binance and pulls a massive $5 billion from the exchange. Any other cryptocurrency exchange would have gone bankrupt with such a massive pullback. As FUD expanded, BNB’s network activity increased to unprecedented levels.
The BNB exchange has the most DAUs of all blockchains, according to Coin98Analytics. With 1.1 million subscribers, BNB has by far the most members of any other network, Ethereum for example has only 402,000 members in second place. The number of withdrawals from the BNB exchange may explain this sudden increase in membership.
Withdrawal volumes are currently back to normal and Binance is easily refunding the money. In addition to the number of large withdrawals, recent interest in the NFT market has also increased activity on BNB.
Trading volume on many NFT exchanges has increased in the last 30 days. However, the number of users of Ethereum’s competitors is normal and logical compared to historical patterns.
Insurance from Binance for BNB listing
The decentralized social network Mithril (MITH) has requested the fee of 200,000 BNB to be paid to be listed on the exchange and has now been pulled from the BNB exchange.
On December 16, Changpeng ”CZ” Zhao, CEO of Binance, responded to Twitter’s request with a screenshot of their contract. In it, he wanted to make clear what power the exchange has to remove the insurance fund as an additional fee if the cryptocurrency in question falls below a predetermined price.
Binance’s CEO spoke to a delisted project that caught the attention of the cryptocurrency community. Binance has been making the news recently, but not for positive reasons, causing the BNB/USD exchange rate to fall.
BNB price prediction – up 4% to $247, could it last?
At the time of writing, the BNB price is $247.52, down 3.4% in the last 24 hours. One day trading volume is $955 million. With a market capitalization of $39 billion, CoinMarketCap has ranked BNB as number 5. The maximum number of coins is 200,000,000 BNB tokens, of which 156,966,995 have been claimed.
BNB is bearish and with nearby support at $221, reaching this price level could push the BNB/USD price down to the next support level at $184.50.
The exchange rate of BNB and USD has reached the candlestick pattern “three black crows” daily, which could indicate a selling trend.
However, there is also a positive side to this story because the resistance level for the BNB/USD price is at $255. If the price rises above this level, BNB could rise to $300.
The selling trends of Bincance Coin and other altcoins are causing investors to look at other options. Dash 2 Trade is one of the most popular coins and it has an upside potential despite the other coins.
Dash 2 Trade (D2T)
Dash 2 Trade is a professional platform and offers in-depth trading information. The project recently raised $10 million in its initial public offering (IPO). Today, the team announced that the countdown can begin listing on the first exchange.
Additionally, Dash 2 Trade is listed on CEX within 30 days. This may be faster if the fourth phase of the pre-sale is over.
Centralized exchanges Changelly Pro, LBank and BitMart will all list the D2T token after the pre-sale ends.
D2T, the currency of the trading platform, will be used as payment for the platform and participation in community events and tournaments. More than $10.25 million worth of D2T coins have already been sold in the presale.
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