CRYPTO NEWS - Binance Coin Price Staring at 23% Drop , Ethereum Price will Crash
Intro (00:01)
Bitcoin Price: (1:11)
Ethereum News (2:15)
Crypto News: (3:12)
Binance Coin Price: (4:41)
Ethereum Price : (5:15)
Outro: (10:58)
CRYPTO NEWS - Binance Coin Price Staring at 23% Drop , Ethereum Price will Crash
The price of Binance Coin (BNB) is correcting after a strong upward movement in January. Negative Binance news probably accelerated the fall.

One of the most negative Binance news in a long time came on February 13. Paxos, one of the leading blockchain and tokenization infrastructure platforms, announced that it would end its partnership with the cryptocurrency exchange for their Binance USD (BUSD) staplecoin.

Thus, the platform will no longer mine BUSD. Nevertheless, the stabelcoin can be redeemed for at least two more years. Accordingly, customers can exchange BUSD for dollar Pax (USDP). Shortly thereafter, the BUSD exchange rate declined slightly. The decision was made after close coordination with the New York Department of Financial Services (NYDFS).

The price of BNB is mired in a decline, and the negative news caused a drop of another 7%.

The cryptocurrency market has been in turmoil in recent days, with Ethereum experiencing a huge price correction that has seen its value drop from a high of $1,710 to a low of $1,460 over the past 11 days. The behavior of Ethereum whales can have a significant impact on the price correction, even though market factors can also play an important role.

According to statistics gathered on the Ethereum blockchain, whales with between 100,000 and 1,000,000,000 ETH sold or reallocated about 350,000 ETH over that 11-day period, which amounted to $560 million. The sharp decline in price witnessed by the cryptocurrency may have been largely influenced by this large outflow of the asset.