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What BUSD’s fallout means for Binance Coin’s [BNB] future

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BNB price fell, its trading volume hit monthly high, whales dumped BUSD after regulator’s 13 February decision. Traders short BNB as NFDFS shared reason for earlier resolution. Binance Coin [BNB], the exchange coin of the world’s largest cryptocurrency exchange, felt the repercussions of the NYDFS’ decision to halt further minting of Binance USD [BUSD]. According […]

BNB: An associate to take the fall

Ordinarily, the volume describes the amount of transactions that pass through a network within an interval. The spike in this metric considers both transactions in losses and gains. But the action by investors would have mostly ended in taking responsibility for dumping the asset.This was because BNB, at press time, had lost 7.34% of its value in the last 24 hours. A 108% increase within the same period, coupled with a 10.

The reason for this projection was because of the actions of whales and sharks. Based on Santiment’s data, addresses holding 1000 to 10000000 BUSD have jointly dumped over $200 million worth of the stablecoin in the last 24 hours. BUSD’s projection to stop hovering around the $1 mark could have been vital to the decision.

 

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