Binance BNB Coin News: Following the recent BNB coin price increase, there is an increasing sense of short selling in the community. The recent news that research firm Mazars has cut ties with crypto exchanges seems to have a long-term impact on the price of BNB.
In the meantime, the overall effect on the crypto market continues to run after the Fed indicates that there will be further increases in 2023. Against this background, a small selling activity on Binance BNB seems to have risen in recent days. Earlier, employee analyst Mazars Group suspended its ties to Binance as the exchange faced heat from the crypto community for material transparency.
Traders believe that Binance is not transparent about how it holds and protects users’ assets. This caused the price of BNB to fall. All the criticism on the side of the assets of the exchange started after the publication of the research report and proof of Binance’s security.
BNB Faces A Small Fold?
Meanwhile, BNB clients appear to be opening large short positions amid FUD surrounding material understanding. Caesar, a crypto enthusiast, said that there is about $118,000,000 in short open on the BNB token. Traders are connecting there with all the FUD surrounding Binance, he said in a tweet. This comes amid a steady decline in the price of the token recently.
At the time of writing, the price of BNB stands at $236.80, down 2.90% in the last 24 hours, according to the CoinMarketCap price platform. In the past week, the fifth cryptocurrency lost around 18% in value.