If we say Binance and Changpeng Zhao in the crypto money world, we all have a question like what happened again. Statements from the exchange and its CEO always draw attention. Now there is a new situation. Let’s look at the details.
Binance and its CEO are trending
According to data from Santiment, BNB and Binance are some of the most trending topics. This is likely due to allegations that the Binance CEO is in an ongoing process of selling Bitcoin holdings. BNB’s price started trading at $216.05, up more than 3% in the past day.
😮 #Binance and $BNB are currently the first and third (respectively) fastest rising topics in #crypto. Major allegations point to #CZBinance continuing to actively sell off their share of #Bitcoin to support their own native token and keep it propped up above key support levels. pic.twitter.com/hX7Mun6MuF
— Santiment (@santimentfeed) August 23, 2023
According to a Twitter post shared by market intelligence platform Santiment, there is an interesting situation. There are current trends in the cryptocurrency world. It reveals that Binance and its related token, BNB, are rapidly rising to the top of the trending topics. For the most part, there are price fluctuations and controversies. Accordingly, it seems to be the fuel behind BNB and Binance being hot topics right now.
Source of controversy
Santiment notes that much of the discussion has centered around key allegations that imply that Binance CEO Changpeng Zhao is in an ongoing process to sell Bitcoin (BTC) holdings. This alleged action is believed to be aimed at bolstering the value of Binance Coin (BNB) and preventing it from falling below important support thresholds.
This naturally led crypto enthusiasts to share possible theories about what really happened to Binance and BNB. In addition, Santiment shared that BNB’s market dominance was also voiced on social media. BNB has not only attracted attention on social platforms. It has also earned a place on CoinMarketCap’s trending list. In the past 24 hours, the price of BNB has increased by more than 3%. Accordingly, it has become one of the few cryptocurrencies traded in green today.
BNB price
As a result, Binance Coin BNB is trading at $216.05 at the time of writing. On the other hand, this marks just below the daily high of $216.18. BNB’s 24-hour success also helped it strengthen by around 3.42% against the market leader Bitcoin (BTC). Along with the price increase, there was a more than 18% increase in BNB’s 24-hour trading volume.
As a result, when we look at Kriptokoin.com, the intraday volume of the token is at $ 719,796,490. The utility token has a market cap of $33,234,585,774. Accordingly, it ranked it as the 4th largest cryptocurrency. On the other hand, it placed just above the 5th-ranked Ripple (XRP) with a market cap of $27,402,459,830. Also, the price of Binance coin has dropped over 10% during the last thirty days of trading.
