- CZ sends multiple messages to BNB users however FUD continues as before
- Action and weighted opinion for BNB decline however traders stay positive
CZ sent personal emails to each client to calm down the FUD surrounding them.
The number of frauds on the BNB chain could make it hard for users to have faith in the chain.
12% of projects on BNB Chain have been accused of fraud this year, according to data provided by Solidus Labs.
Skeptics are skeptical
According to data given by Santiment, the weighted feeling around BNB had been pessimistic over the course of the last month. A negative weighted opinion suggested that most of the crypto community had more negative than positive comments about BNB.
Moreover, the quantity of social commitment around Binance also diminished during this period. In view of data given by LunarCrush, social commitment around BNB fell by 24.9%.
Coupled with that, the action on the BNB chain diminished too. From data gave Santiment, it was seen that the quantity of everyday dynamic locations on the BNB chain declined substantially over the course of the past month. At the hour of composing, the quantity of day to day dynamic BNB addresses was 2,749.
One more indicator of declining action on the BNB chain was the falling speed of BNB. The speed for BNB had declined really throughout recent weeks. This showed that the times BNB had gotten across addresses had diminished.
Despite declining sentiment and activity, traders remained optimistic about BNB.
In the possession of traders and holders
Over the past few weeks, the number of long positions taken for BNB grew considerably.
The majority of traders took long positions in favor of BNB.
Regardless of the way that traders were optimistic about BNB, holders continued to suffer losses.
The Market Value to Realized Value (MVRV) proportion declined enormously throughout recent weeks. This could be found in the chart given underneath. A negative MVRV proportion inferred that assuming that most of the holders of BNB chose to sell their possessions, they would do as such confused.
At the time of writing, BNB was trading at $242.52 and its price had depreciated by 0.43%
These 5 Cryptocurrencies Might Continue To Astonish To The Upside
Euler Finance To Enter Talks With Exploiter Over The Return Of Assets
Mastercard To Settle Transactions For Stablecoin Wallet In APAC