{"id":548461,"date":"2023-08-23T02:00:49","date_gmt":"2023-08-23T02:00:49","guid":{"rendered":"https:\/\/uniquehot.com\/?p=548461"},"modified":"2024-06-12T09:37:31","modified_gmt":"2024-06-12T09:37:31","slug":"binance-bitcoin-bnb","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/binance-coin\/binance-bitcoin-bnb\/","title":{"rendered":"Is Binance Really Selling Bitcoin To Prop The Price Of BNB?"},"content":{"rendered":"

Crypto exchange Binance has had a tough few months in terms of market news and pressure from regulatory bodies. Just a few days ago, Binance lost another payment processing partner after Checkout.com <\/span>terminated its contract<\/span><\/a> with the crypto exchange. And now, another rumor that appears to be spreading is that Binance is selling Bitcoin on the spot market to sustain the price of its native token, BNB.<\/span><\/p>\n

Is Binance Really Selling Its Bitcoin To Buy BNB?<\/h2>\n

The rumor originated from a post made by @WhaleChart on X (formerly Twitter), claiming that Binance is allegedly selling Bitcoin on the spot market to support the price of its own token, BNB.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Community Leaves Shibarium Launch Troubles Behind As Wallet Count Crossed 10 Million<\/a><\/div>\n
\n

BREAKING:<\/p>\n

Binance is allegedly selling Bitcoin to support the price of their own token BNB<\/p>\n

\u2014 Whale (@WhaleChart) August 22, 2023<\/a><\/p><\/blockquote>\n

This rumor seems to be gaining ground since the tweet first went live, especially as the price of BNB continues to struggle in the market. This is because a<\/span>s one of the biggest holders of both Bitcoin and BNB, Binance is in a unique position to manipulate the market if it wanted.\u00a0<\/span><\/p>\n

However, this remains only a rumor as there are currently no signs the crypto exchange is manipulating the price for short-term gains in BNB.\u00a0<\/span><\/p>\n

Additionally, data from Coinmarketcap shows that the prices of both cryptocurrencies have been falling together in the past week, with Bitcoin also down by 11.20% in a 7-day timeframe.<\/span><\/p>\n

This will not be the first time such allegations are being brought against the exchange. Binance has faced similar <\/span>claims in the past<\/span><\/a>, with crypto analyst JW claiming Binance was selling Bitcoin to prop up the price of BNB in June of this year.\u00a0<\/span><\/p>\n

\"BNB<\/p>\n

Token price falls in tandem with BTC | Source: BNBUSD on Tradingview.com<\/a><\/pre>\n
Binance CEO Changpeng Zhao (CZ), however, denied the allegations, dismissing them as an attempt to spread fear, uncertainty, and doubt (FUD).\u00a0<\/span><\/p>\n
\n
4. Binance have not sold BTC or BNB. We even still have a bag of FTT.<\/p>\n
It is amazing they can know exactly who sold based on just a price chart involving millions of traders. FUD. \ud83e\udd37\u200d\u2642\ufe0f pic.twitter.com\/M3MUH2bFRE<\/a><\/p>\n
\u2014 CZ \ud83d\udd36 Binance (@cz_binance) June 13, 2023<\/a><\/p><\/blockquote>\n
Whether or not the theories are true, Binance has surely been under intense scrutiny, but it continues to stand strong as the biggest exchange in the world.\u00a0<\/span><\/p>\n
BNB and other cryptocurrencies that rely on the BEP20 and BEP2 token standards are very dependent on Binance, as news surrounding the exchange has led to price pumps and dumps in the past. But there has been no solid evidence that the exchange has been manipulating the prices of any of these tokens.<\/span><\/p>\n
Related Reading: Gemini Hits Back At SEC Lawsuit With Dismissal Filing<\/a><\/div>\n
The price of BNB has seen a drastic reduction in the past few days as the entire market goes through corrections signaled by BTC falling by more than 8% in a couple of minutes last week. As a result, BNB has seen its price drop to $209.44, a reduction of 12.33% in the past few days.\u00a0<\/span><\/p>\n
To combat a further price drop, the BNB Chain had to <\/span>manually liquidate a $200 million position on the Venus DEFI protocol<\/span><\/a>, which would have been liquidated after BNB dropped below $220.<\/span><\/p>\n
At the time of writing, BNB is the fourth biggest crypto with a market cap of $32.2 billion.<\/span><\/p>\n
Featured image from Unsplash, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Crypto exchange Binance has had a tough few months in terms of market news and pressure from regulatory bodies. Just a few days ago, Binance lost another payment processing partner after Checkout.com terminated its contract with the crypto exchange. And now, another rumor that appears to be spreading is that Binance is selling Bitcoin on the spot market to sustain the price of its native token, BNB. Is Binance Really Selling Its Bitcoin To Buy BNB? The rumor originated from a post made by @WhaleChart on X (formerly Twitter), claiming that Binance is allegedly selling Bitcoin on the spot market to support the price of its own token, BNB.\u00a0 Related Reading: Shiba Inu Community Leaves Shibarium Launch Troubles Behind As Wallet Count Crossed 10 Million BREAKING: Binance is allegedly selling Bitcoin to support the price of their own token BNB \u2014 Whale (@WhaleChart) August 22, 2023 This rumor seems to be gaining ground since the tweet first went live, especially as the price of BNB continues to struggle in the market. This is because as one of the biggest holders of both Bitcoin and BNB, Binance is in a unique position to manipulate the market if it wanted.\u00a0 However, this remains only a rumor as there are currently no signs the crypto exchange is manipulating the price for short-term gains in BNB.\u00a0 Additionally, data from Coinmarketcap shows that the prices of both cryptocurrencies have been falling together in the past week, with Bitcoin also down by 11.20% in a 7-day timeframe. This will not be the first time such allegations are being brought against the exchange. Binance has faced similar claims in the past, with crypto analyst JW claiming Binance was selling Bitcoin to prop up the price of BNB in June of this year.\u00a0 Token price falls in tandem with BTC | Source: BNBUSD on Tradingview.com Binance CEO Changpeng Zhao (CZ), however, denied the allegations, dismissing them as an attempt to spread fear, uncertainty, and doubt (FUD).\u00a0 4. Binance have not sold BTC or BNB. We even still have a bag of FTT. It is amazing they can know exactly who sold based on just a price chart involving millions of traders. FUD. \ud83e\udd37\u200d\u2642\ufe0f pic.twitter.com\/M3MUH2bFRE \u2014 CZ \ud83d\udd36 Binance (@cz_binance) June 13, 2023 Whether or not the theories are true, Binance has surely been under intense scrutiny, but it continues to stand strong as the biggest exchange in the world.\u00a0 BNB and other cryptocurrencies that rely on the BEP20 and BEP2 token standards are very dependent on Binance, as news surrounding the exchange has led to price pumps and dumps in the past. But there has been no solid evidence that the exchange has been manipulating the prices of any of these tokens. Related Reading: Gemini Hits Back At SEC Lawsuit With Dismissal Filing The price of BNB has seen a drastic reduction in the past few days as the entire market goes through corrections signaled by BTC falling by more than 8% in a couple of minutes last week. As a result, BNB has seen its price drop to $209.44, a reduction of 12.33% in the past few days.\u00a0 To combat a further price drop, the BNB Chain had to manually liquidate a $200 million position on the Venus DEFI protocol, which would have been liquidated after BNB dropped below $220. At the time of writing, BNB is the fourth biggest crypto with a market cap of $32.2 billion. Featured image from Unsplash, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":548467,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83379,83365,83361,3],"tags":[10768,13446,83605,428,11427,89186,1119,12307],"class_list":["post-548461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-binance-coin","category-bnb","category-btc","category-news","tag-binance","tag-binance-exchange","tag-binance-news","tag-bitcoin","tag-bnb","tag-bnb-news","tag-btc","tag-crypto-exchange"],"acf":[],"yoast_head":"\nIs Binance Really Selling Bitcoin To Prop The Price Of BNB?<\/title>\n<meta name=\"description\" content=\"Another rumor that appears to be spreading is that Binance is selling Bitcoin on the spot market to sustain the price of BNB.\" \/>\n<meta name=\"robots\" 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is Binance Really Selling Bitcoin To Prop The Price Of BNB?","url":"http:\/\/uniquehot.com\/news\/binance-coin\/binance-bitcoin-bnb\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/binance-coin\/binance-bitcoin-bnb\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/kanchanara-WLvog4WcqRU-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/kanchanara-WLvog4WcqRU-unsplash.jpg?fit=6048%2C4024"},"articleSection":"Binance Coin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["binance","binance exchange","binance news","bitcoin","bnb","bnb news","btc","crypto exchange"],"dateCreated":"2023-08-23T02:00:49Z","datePublished":"2023-08-23T02:00:49Z","dateModified":"2024-06-12T09:37:31Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Is Binance Really Selling Bitcoin To Prop The Price Of BNB?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/binance-coin\\\/binance-bitcoin-bnb\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/binance-coin\\\/binance-bitcoin-bnb\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/kanchanara-WLvog4WcqRU-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/kanchanara-WLvog4WcqRU-unsplash.jpg?fit=6048%2C4024\"},\"articleSection\":\"Binance Coin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"binance\",\"binance exchange\",\"binance news\",\"bitcoin\",\"bnb\",\"bnb news\",\"btc\",\"crypto exchange\"],\"dateCreated\":\"2023-08-23T02:00:49Z\",\"datePublished\":\"2023-08-23T02:00:49Z\",\"dateModified\":\"2024-06-12T09:37:31Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/kanchanara-WLvog4WcqRU-unsplash.jpg?fit=6048%2C4024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/548461"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=548461"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/548461\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/548467"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=548461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=548461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=548461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}