Did Bitcoin in Bitcoin and Ethereum caused by Binance to the collapse of the market? The exchange of encryption responds
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There were recent concerns within the encryption community regarding the recent activities of Binance after the appearance of a demand that the exchange had canceled the download of large quantities of bitcoin and ethereum. The direction of selling Binance for the first time was observed on the social media platform X by one of the participants in the market known as AB kuai.dong (@_forab), who indicated that the exchange of encryption was selling Bitcoin and Ethereum property.
Did Binance led to the collapse of the market?
Encryption I endured two weeks troubledWith Bitcoin in Chain center From price accidents. The recession started when Bitcoin fell to $ 92,000 on February 3. Although the brief recovery witnessed BTC climbing about $ 98,000 on February 11, the momentum proved short -term. Bitcoin has Since he fought to restore momentum And hovering about 95,000 dollars.
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It is not surprising that the collapse of bitcoin prices has spread across the market, which led to the withdrawal of other cryptocurrencies. On the same day, Bitcoin struck the lowest local level, Ethereum decreased to less than $ 2,470.
like Note before Ab kuai.dong, Binance Perhaps it contributed to the recession. The data shows that the Binance encryption addresses have witnessed a radical decrease in their holdings in the past few days. In particular, I noticed ab Kuai.dong that Binance was selling a large part of the encryption holdings, which go beyond Bitcoin, Ethereum, Solana, BNB and some Stablecoins.
The data revealed on the series that Binance witnessed a 94.1 % decrease in Bitcoin’s holdings between January and February. The external flow was more extreme for Ethereum, as the balances decreased by 99.9 % during the same period. BNB, Solana and Tether USDT were also reduced by 16.6 %, 99 % and 99.9 %.
Interestingly, AB kuai.dong noticed that these assets were primarily the revenues created by the platform instead of user money. He also indicated that a large part of the encoded currencies has been transferred to USDC, which increased by 57.5 % in the Binance Governor.
Binance responds to the claims of the market breakdown
Ab kuai.dong gained a traction speed between encryption traders and investors on X, especially those looking for explanations for the recent decrease in Bitcoin and Ethereum prices. As the largest exchange of encryption in the world, a Sales By Binance will be one of the worst things that occur in the encrypted currencies concerned.
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However, Binance was fast in addressing fears, and denouncing firmly that she sold any assets. In an official statement of X, Clearer What is noticed is just an internal accounting amendment within the Treasury Department. As such, Binance reassured users that their money has been safe and safe as always.
At the time of this report, Bitcoin is traded at $ 95,740, after it decreased by 2.6 % in the past 24 hours. ETHEREUM is trading at $ 2,600 and is a decrease of 4.2 % over the past 24 hours.
Distinctive image from Unsplash, Chart from TradingView.com
