Post
Topic
Board Altcoin Discussion
Re: What makes Binance stay strong despite all FUD ?
by
wxa7115
on 03/04/2023, 00:23:51 UTC
There is nothing short of FUDs in the crypto market especially for big names such as Binance.  Recently there are so many accusations about Binance and even the U.S Senator has inquired. According to Binance's response https://www.binance.com/en/blog/ecosystem/binance-shares-its-recent-response-to-us-senators-inquiry-1968152125579137703 , there are some public misconceptions about Binance and the team had already clarified. When I read the news, the first thing came to my mind was that BNB price was doomed to decrease dramatically. However, Binance US's weekly trading volume reached 41% of Coinbase's (global) trading volume last week, which is an ATH. (Source:https://twitter.com/cz_binance/status/1641728341962096641). At the same time, BNB price is still around $320, showing very little volatility. What makes Binance so strong faced with so many unfavorable conditions ? Please share your opinions.
Binance is a company managing a great deal of the whole volume of this market, so it is not going to be shaken by a few rumors, for binance to encounter some problems a more direct approach will need to be taken by governments all around the world.

At the same time you need to understand that since binance is the biggest exchange on this market this also makes it the one that is the most trusted, and you will need a lot more to shake to confidence of investors than what you will need with other exchanges.