FUD or True Is Binance boosting BNB by selling Bitcoin?

The crypto community is currently debating whether Binance is selling Bitcoin on the spot market to support Binance Coin (BNB), despite a flood of major news in the crypto sector. Rumors started after a trader drew attention to some data, but experts are calling the rumor unfounded. However, some data points are being called striking, such as USDT reserves being pumped into BNB and BNB being sold to BUSD to suppress BTC volatility. Binance CEO Changpeng Zhao responded to the allegations, calling them “FUD” and questioning the data. Despite this, voices about unusual price action on Binance are increasing, and some suspect that Binance wants to keep BNB above $220 to prevent a “liquidation waterfall”. However, the cumulative volume delta (CVD) data is not capable of proving this rumor true. Until further evidence is presented, the rumor must be dismissed as just that: a rumor. At press time, BNB is up 5.4% in the last 24 hours, trading at $248, while Bitcoin is slightly down -0.8% in the same time period.

We will continue to update Phone&Auto; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


Coinbase stock surges after federal ruling for Grayscale.

Coinbase's stock experienced a significant surge on Aug. 29 following a favorable ruling by a federal judge in Graysc...


5 important things to know in Bitcoin this week, including the fact that $31K was not the end.

Bitcoin is starting the new week in a stable state, but traders are expecting the price of BTC to become more volatil...


Bitcoin's drop attributed to 5 potential reasons

The price of Bitcoin experienced a sudden downturn on Thursday evening, resulting in a temporary decline of more than...


Google Cloud adds 11 blockchains to BigQuery

In a positive move, Google Cloud unveiled its extensive collection of public datasets for Bitcoin and Ethereum back i...


Nomura, a major Japanese bank, launches Bitcoin adoption fund.

Nomura, the renowned banking giant in Japan, has recently unveiled an exciting Bitcoin adoption fund specifically des...


Price analysis for various cryptocurrencies on August 25: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, TON.

Bulls regained control over the crypto market following optimistic remarks from the Federal Reserve indicating the po...