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BNB Surviving Sea of Red Today: Analyst

Tue, 11/08/2022 - 14:54
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Yuri Molchan
BNB remains in green, while FTT is crashing and rest of crypto market is in red
BNB Surviving Sea of Red Today: Analyst
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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."

Contrary to BNB, FTT - the native token of Binance's rival FTX - is now crashing by over 29%, according to CoinMarketCap.

Image via 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.

Bitcoin May Hit $100,000 One Day, DOGE Creator Says, But There's a Catch

Founder 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.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at