Blockchain
Members of the cryptocurrency community discuss running banks on Binance
Over the past 24 hours, cryptocurrency exchange Binance has seen outflows of over $1.14 billion due to the rise of FUD — or fear, uncertainty, and suspicion — within the crypto ecosystem.
According to the CEO of Binance Changpeng “CZ” ZhaoThe exchange has seen this before, and believes it is “a good idea to do a ‘stress test of withdrawals’” at every CEX [centralized exchange] on a rotational basis.”
We saw some withdrawals today ($1.14 billion net random). I’ve seen this before. Some days we have net draws; Some days we have net deposits. Business as usual for us.
I actually think it’s a good idea to do “stress test pulls” at every CEX on a periodic basis.
– CZ Binance (cz_binance) December 13, 2022
The bank run on Binance comes a month after CZ ran the bank on FTX, which led to liquidity problems and its eventual collapse.
Despite the rampant FUD within the cryptocurrency community, many members remain optimistic that Binance will weather the storm and not share the same fate as FTX. Others speculate that if Binance crashes, the entire crypto industry could be brought to its knees.
bitcoin (BTC) Millionaire Carl Ranvelt said on Twitter: “If Binance collapses, we will all be beaten.”
If Binance collapses, we are all in bad shape
– Carl From The Moon (TheMoonCarl) December 13, 2022
Author and Bitcoin enthusiast Layah Heilpern shared: “Do you realize that if Binance falls then everything else will collapse? Yes, #bitcoin will survive, but the entire cryptocurrency ecosystem including stablecoins will die.”
I don’t understand why people are cheering the collapse of Binance.
Do you realize that if Binance crashes everything else will crash? yes # Bitcoin You will survive but the entire cryptocurrency ecosystem including stablecoins will die.
– Layah Heilpern (@LayahHeilpern) December 13, 2022
Twitter user Crypto Cognac shared that the Binance drop would not benefit the space, as it would take the space “back to the stone age.”
If Binance goes down, it won’t be good for this space. Back to the Stone Age. Binance is my #1 exchange. I think Binance is good and this is a coordinated FUD campaign run by an entity that wants crypto to fail.
– CryptoCognac (CognacCrypto) December 13, 2022
Timverse said that they believe that if Binance becomes insolvent, it will “set the industry back” by years — though the cryptocurrency will survive because “it was here before binance came along and it will be here after.”
The Binance bankruptcy would definitely set the industry back a few years and I agree with that.
But will the cryptocurrency industry go away.. I don’t disagree.
Cryptocurrency was here before binance came along and it will be here after– Timsverse (Timsverse) December 13, 2022
Crypto Analyst and Government Consultant Del Crxpto accused the crypto media of promoting FUD about Binance, saying, “The media is trying to cause a bank to run binance. Audit The truth is time is audit #1 and binance has stood the test of time.”
The media is trying to cause a bank run binance.
In the past several weeks, they have tried to push several narratives in this regard, the latest one being binance Did not pass audit.
The fact is that time is revision number 1 and binance It has proven the test of time.
– DelCrxpto (DelCrxpto) December 13, 2022
Related: CZ confirms abnormal token price action on Binance that is not related to the hack
On December 11, Cointelegraph reported this Binance’s proof of reserves raised signs of danger For accounting and finance professionals Competitors called it “pointless”because it failed to include antagonists.
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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.
Key levels:
Resistance levels: $300, $310, $320
Support levels: $130, $120, $110 BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.
According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.
However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.
Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.
However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.
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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.
Key levels:
Resistance levels: $2.00, $2.20, $2.40
Support levels: $0.50, $0.30, $0.10 DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.
the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.
Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).
Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.
Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.
But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.
Dash 2 Tadawul – High Potential Pre-Selling
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Bancor Prediction Statistics Data:
BNT/USD market
Bancor Price Prediction: Bancor is preparing for an upward movement
Related
dYdX prediction stats data:
DYDX/USD Market
dYdX Price Prediction: DYDX is ready for an uptrend
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