Saturday, April 1, 2023
No Result
View All Result
Blockchain Daily Report
Advertisement
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • SCAM ALERT
  • REGULATIONS
  • ANALYSIS
Crypto Marketcap
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • SCAM ALERT
  • REGULATIONS
  • ANALYSIS
Crypto Marketcap
Logo
No Result
View All Result
Home Crypto Exchanges

Is Binance Insolvent? Will BNB Price Carry the Same Fate As FTT-Decode the Truth?

by Blockchain Daily Report
December 24, 2022
in Crypto Exchanges
Reading Time: 3 mins read
A A
0
Is Binance Insolvent? Will BNB Price Carry the Same Fate As FTT-Decode the Truth?
Share on FacebookShare on Twitter


Binance trade lately confronted rumors relating to insolvency because of which hefty quantities of funds had been withdrawn from the platform. This impacted the BNB value as nicely which dropped closely by practically 24%. This drop ignited ripple results throughout the crypto house as a lot of the cryptos together with the Bitcoin value dropped closely marking a double-digit loss.

Nonetheless, it was largely thought-about as a FUD as Binance is a really robust trade and BNB token is a bit more numerous than FTT. Whereas Binance Coin is the native token of each the Binance Sensible chain and Binance trade, FTT is the native token of the FTX trade solely. Apart from, there are some extra options that hold Binance away from the gang. 

Binance Sensible chain or BSC is the world’s most used chain with the second highest TVL. BSC additionally has extra lively customers than Ethereum, Polygon, and Solana mixed.

DAILY ACTIVE USERS BY BLOCKCHAIN

1. BNB Chain2. Ethereum3. Polygon4. Solana5. Arbitrum6. Fantom7. Optimism8. Avalanche9. Starknet10. MultiversX pic.twitter.com/b0fvIiV7xF

— Coin98 Analytics (@Coin98Analytics) December 17, 2022

Aside from this BSC is essentially the most used blockchain by prime NFT video games as nicely. 9 out of 25 prime NFT video games, making it essentially the most most popular blockchain for crypto video games

Supply: Statista

Accoding to nansen information BNB, the native token holds the 4th largest share throughout the reserves with 10.2%, whereas BUSD tops with 26.38%, adopted by USDT with 21.61% and BTC with 14.94%

Pancakeswap which is BNB’s prime DEX has a TVL of $3.1 billion on the chain. Venus, one of many well-liked lending protocol has a TVL of $1 billion on the chainBiSwap, well-known DEX has a TVL of $250 million on BNB chainApeSwap DEX has a TVL of $52 million on the chainBinance, as an trade has practically 120 million customers which is the best of allThe trade holds 75% of CEX market share with $56 billion + in reserves and survived stress checks together with over $10 billion withdrawals final week.The favored trade has additionally processed Futures quantity of practically $15 trillion this yr alone which may have netted them an estimate of $3 billion in charges simply from future tradingThe platofrm has a powerful income sources comparable to Spot and Margin buying and selling in addition to offeings, producing an estimate of $20 billion in income in 2021

Apart from, FTX trade had a number of loans which had been taken with FTT as a collateral. This additional coupled with the dearth of robust natural demand for FTT and revelations about FTX’s misconducts intensified its downfall. Conversely, Binance has no loans with BNB as collateral and the robust fundamentals of the token isn’t anyway much like FTT. 

General, the Binance platform has been proved as the most important and the popular platform and likewise has maintained trnasperency with the Proof-of-Reserves. Due to this fact, the platform might not expertise the identical destiny as FTX and BNB value might rebound finely within the coming days.





Source link

Tags: BinanceBNBCarryFateFTTDecodeInsolventpriceTruth
Share76Tweet47

Related Posts

Trump NFT sales volume soars 461% following indictment

Trump NFT sales volume soars 461% following indictment

by Blockchain Daily Report
March 31, 2023
0

Advert Former U.S. President Donald Trump’s NFT assortment gross sales quantity rose 461% to $185,783 within the final 24 hours...

Matt Damon promoted Crypto.com to support his Water.org charity

Matt Damon promoted Crypto.com to support his Water.org charity

by Blockchain Daily Report
March 30, 2023
0

Advert Matt Damon stated he promoted Crypto.com to boost cash for Water.org.Water.org is a non-profit group that goals “to convey...

Lido to sunset staking on Polkadot, Kusama by August

Lido to sunset staking on Polkadot, Kusama by August

by Blockchain Daily Report
March 29, 2023
0

Liquid staking protocol Lido (LDO) mentioned it might cease offering staking companies for Polkadot (DOT) and Kusama (KSM) on Aug....

XRP rises 10% against Bitcoin as USD value rises to five-month high

XRP rises 10% against Bitcoin as USD value rises to five-month high

by Blockchain Daily Report
March 28, 2023
0

Advert Ripple’s XRP has risen by almost 10% towards Bitcoin (BTC) regardless of the broad market sell-off within the final...

Accidentally burnt CryptoPunk #685 ‘resurrected’ – becomes first official CryptoPunk Ordinal

Accidentally burnt CryptoPunk #685 ‘resurrected’ – becomes first official CryptoPunk Ordinal

by Blockchain Daily Report
March 27, 2023
0

Brandon Riley — aka @vitalitygrowth — unintentionally burnt Crypto Punk 685 whereas attempting to wrap it to get an NFT...

Load More
  • Trending
  • Comments
  • Latest
Mine CLORE Coins Used by the CLORE.AI Distributed Computing Platform

Mine CLORE Coins Used by the CLORE.AI Distributed Computing Platform

January 23, 2023
Arbitrum Goerli Faucet – Get Arbitrum Testnet ETH in 3 Steps

Arbitrum Goerli Faucet – Get Arbitrum Testnet ETH in 3 Steps

February 14, 2023
Bitcoin’s Horizontal Levels Show Potential For Bullish Trend

Bitcoin’s Horizontal Levels Show Potential For Bullish Trend

April 1, 2023
Can Dogecoin Reach Its Previous ATH? Let’s Take A Look At The Facts

Can Dogecoin Reach Its Previous ATH? Let’s Take A Look At The Facts

April 1, 2023
ZeroSync and Blockstream to Broadcast Bitcoin Zero-Knowledge Proofs From Space

ZeroSync and Blockstream to Broadcast Bitcoin Zero-Knowledge Proofs From Space

March 31, 2023
Over 7,000 Players Successfully Converged in Yuga Labs’ Otherside Metaverse ‘Second Trip’

Over 7,000 Players Successfully Converged in Yuga Labs’ Otherside Metaverse ‘Second Trip’

April 1, 2023
Tech Industry Leaders Call for AI Labs to Pause Development for Safety, Coinbase CEO Disagrees – Bitcoin News

Tech Industry Leaders Call for AI Labs to Pause Development for Safety, Coinbase CEO Disagrees – Bitcoin News

April 1, 2023
Bitcoin’s Average and Median-Sized Network Fees Rose 40% Higher in March – Bitcoin News

Bitcoin’s Average and Median-Sized Network Fees Rose 40% Higher in March – Bitcoin News

March 31, 2023
Bitcoin Beach Wallet Renamed To Blink In Addition To Changes Aimed At Making The App Global

Bitcoin Beach Wallet Renamed To Blink In Addition To Changes Aimed At Making The App Global

April 1, 2023
Alpine Teams with Binance to Offer Fans Unique F1 NFT!

Alpine Teams with Binance to Offer Fans Unique F1 NFT!

March 31, 2023
Facebook Twitter Instagram Youtube RSS

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Blockchain Daily Report.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Mining
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 Blockchain Daily Report.
Blockchain Daily Report is not responsible for the content of external sites.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • SCAM ALERT
  • REGULATIONS
  • ANALYSIS

Copyright © 2022 Blockchain Daily Report.
Blockchain Daily Report is not responsible for the content of external sites.

  • bitcoinBitcoin(BTC)$28,451.002.22%
  • ethereumEthereum(ETH)$1,825.742.11%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.06%
  • binancecoinBNB(BNB)$315.420.38%
  • usd-coinUSD Coin(USDC)$1.000.01%
  • rippleXRP(XRP)$0.52-4.57%
  • cardanoCardano(ADA)$0.3932584.17%
  • staked-etherLido Staked Ether(STETH)$1,820.932.10%
  • dogecoinDogecoin(DOGE)$0.0771824.09%