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Open short on $BNB and we'll see
There are several reasons why BNB (Binance Coin) doesn't make sense and should be shorted. Firstly, the recent surge in its price is purely based on speculation and market manipulation. There is no real value or significant adoption driving its value, making it highly overvalued.
Secondly, BNB's primary use case is limited to the Binance exchange ecosystem. With increasing competition and the emergence of decentralized exchanges, Binance's dominance is under threat. As a result, the demand for BNB is likely to decline significantly in the future.
Going under 200$BNB ?
LIVECrypto_Kathy
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📉 Binance's market share woes continue! 😱 The exchange's spot market share dropped for the 7th month in a row, from 38.5% in August to 34.3% in September, according to CCData. But wait, there's more! Binance's derivatives market share also tumbled from 53.5% to 51.5% in the same period. 📉
Why the decline? 🤔 Regulatory challenges in the U.S. and the end of zero-fee trading promotions are to blame, says CCData analyst Jacob Joseph. Binance's exit from key markets like Russia also plays a part. 🇷🇺
Who's benefiting? Rival exchanges like HTX, Bybit, DigiFinex, OKX, and Bitget are scooping up the lost market share. 🚀
What do you think? Is Binance's reign coming to an end? Share your thoughts in the comments! 💬
Why the decline? 🤔 Regulatory challenges in the U.S. and the end of zero-fee trading promotions are to blame, says CCData analyst Jacob Joseph. Binance's exit from key markets like Russia also plays a part. 🇷🇺
Who's benefiting? Rival exchanges like HTX, Bybit, DigiFinex, OKX, and Bitget are scooping up the lost market share. 🚀
What do you think? Is Binance's reign coming to an end? Share your thoughts in the comments! 💬
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