Binance CEO Changpeng “CZ” Zhao says the world’s largest cryptocurrency exchange is selling bitcoin (BTC) to prevent the price of bnb coin (BNB) from falling below a certain level. Dispelled the rumor.
“Binance does not sell BTC or BNB. We still have bags of FTT,” Zhao tweeted early Wednesday morning, using the infamous “4” nickname.he suggested that it was possible short term interest rate Rumors are circulating among members of Crypto Twitter.
Tweets by popular traders @JW100x and @52kskew went viral on Tuesday, pointing to a short-term price correlation between Bitcoin (BTC) declines and BNB purchases. According to Twitter data, the tweet has been viewed more than 3 million times.
“USDT reserves have been actively injected into BNB since May 27. BNB is being sold for BUSD to reduce BTC volatility,” tweeted @52kskew. “BUSD will be injected into BTC to reduce downside volatility, allowing BTC to be exchanged for USDT.”
Elsewhere @JW100x said: “If spot bitcoin sells, BNB can be bought, protecting $220 liquidation, but also limiting bitcoin’s upside potential.
Data from CoinGecko show that BNB’s price is up 6.6% over the past 24 hours, while Bitcoin is in a nominal decline.
