Big Trouble in Little China: Everything is OK with BinanceNov 25, 2019
Last week, the entire market began to panic due to news about a raid in the Shanghai office of the Binance exchange. These fake news made a lot of noise. Many people considered this news was the beginning of BTC large sales, which price lost 15% and drop below the $7,000 psychological level.
In general, the market lost more than $ 50 billion in weight over the past week. The figure is rather big, including the total market capitalization at $188 bln.
This decrease affected the BNB coin, which also suffered when BTC lost 25% of it’s value. But the coins issued on Binance’s IEO are basically all traded in a good plus, which make us to expect the restoration of BNB itself soon.
Note, that the BTC hashrate remains at record levels, which is a good indicator for the market.