A Binance spokesperson has clarified that rumors suggesting that the company was dumping some of its crypto holdings, including Ethereum and Solana, are simply untrue.
These rumors started doing the rounds on social media almost immediately after the Bybit hack. Speculations suggested that large crypto firms, including Binance, caused the recent market sell-off by aggressively selling and reducing the size of their holdings.
They are misunderstanding what Binance does as an exchange, which is we simply help users match trades – Binance
Binance’s clarification could be one of the reasons we’ve seen the market recover over the weekend.
There are still reasons to worry about potential liquidation, though, especially given the upcoming influx of Solana tokens from the FTX hack. Over 15M $SOL worth $2.5B are about to flood the market.
Still, expert analysis suggests that the coming week could see more buying pressure, as $BTC takes support on the 200 EMA. Combined with the long-term perspective being bullish, it could be worth investing in
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