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While most of the crypto market is in the red, Binance Coin (BNB) remains in the green zone, though the growth is tiny.
Still, currently, BNB is one of the few coins on the top 10 list that is still green. The other two assets are BUSD (stablecoin of Binance) and USDT. Analyst Miles Deutscher shared a chart with the top 10 coins' prices, commenting that "CZ is showing everyone who the boss is."
Only $BNB is surviving the sea of red today.
— Miles Deutscher (@milesdeutscher) November 8, 2022
CZ is showing everyone who’s boss. pic.twitter.com/P84LGWV28u
Contrary to BNB, FTT - the native token of Binance's rival FTX - is now crashing by over 29%, according to CoinMarketCap.
Rumors have emerged that FTX exchange has stopped processing withdrawals. Earlier today, it was reported that withdrawals were limited to only $1,000 worth of crypto.
In the meantime, Binance continues to sell its stash of FTX. The confrontation of the two large exchanges is impacting prices on the crypto market as Bitcoin has dropped back below $20,000.
Yuri MolchanFounder of OKX exchange Star Xu believes that if FTX becomes the second LUNA, the whole crypto space will suffer, including Binance. Customers and regulators may become disappointed as a result of this, he tweeted.
Denys Serhiichuk
Dan Burgin
Alex Dovbnya
Vladislav Sopov