Santiment on-chain data vendor has published a tweet about the two fastest-growing topics discussed in the crypto community.
They are Binance and BNB and their relation to the Bitcoin price. A lot of allegations have been emerging, per Santiment, that the co-founder and chief of Binance, Changpeng Zhao (CZ), has been selling the supply of Bitcoin held by Binance, hoping it will help him to prevent Binance Coin (BNB) from crashing below key support levels.
😮 #Binance and $BNB are currently the first and third (respectively) fastest rising topics in #crypto. Major allegations point to #CZBinance continuing to actively sell off their share of #Bitcoin to support their own native token and keep it propped up above key support levels. pic.twitter.com/hX7Mun6MuF— Santiment (@santimentfeed) August 23, 2023
In multiple interviews and tweets in the past, CZ claimed that he does not care about the BNB price, but his goal is to #buidl (a word changed to be similar to "hodl") new products in the crypto space.
Since Aug. 14 alone, BNB has lost 14%, dropping from the $240 level to $206 today. However, a few hours ago, the native token of Binance began rising, staging several consecutive green candles and growing by almost 4%. At the time of this writing, BNB is changing hands at $215.1 per coin.
Starting from April, BNB has dropped even lower as, back then, it traded at $348 per coin.
Currently, Bitcoin is changing hands at the $26,000 level, trading sideways over the last several days. Since Aug. 16, BTC has lost approximately 10%, crashing from above the $29,00 price mark. Some, however, believe that this is a typical BTC dump before the upcoming halving, which is expected in April-May next year.