A series of scandals from the SEC targeting Binance and unverified news about CZ have partly caused the Crypto market to fluctuate recently. What are the opportunities for Binance growers?
The current community controversy is the contradiction between the past request from the SEC chairman when he wanted to be an advisor to Binance and vice versa. Currently, Binance or the SEC chairman have not commented further on this information.
If the FUD information targeting Binance this time also has the same purpose to shake things off as what happened in March and December last year. So what are the notable names in the market's recovery wave? Let's find out through the analysis below!
Binance House
The common point of all Binance FUD events is that users' assets are massively withdrawn from Binance and other centralized exchanges. Causing trading volume on CEXs to decrease sharply.
In the past, whenever the FUD storm passed, Binance would act to create games that were attractive enough to attract users back to the exchange.
Opinion
This round of FUD has caused some fluctuations in confidence in Binance. BinanceUS encountered a sensitive problem when the prices of BTC, ETH, BNB trading pairs on this exchange were different from the global market price. This situation has made Binance's wobbles more obvious in the face of market instability.
Bad news was once again released at the time and price zone near the bottom of BTC's downward wave, creating a negative impact on the market. This time, the impact of the news became more “serious” when BinanceUS had to delist more than 100 trading pairs on the Advanced Trading interface and stop providing OTC-related services.
Despite the difficulties, Binance and Coinbase have mounted a counterattack by opposing the SEC's charges and asserting their compliance with US law. This can be seen as a bright spot, helping exchanges focus on restoring user trust and proving their trustworthiness.
Our job now is to know where we are and allocate risks, choosing stocks that have catalysts in the next 2-3 weeks with the expectation that there will be a final rising wave according to the Bitcoin cycle. similar to 2015 & 2019.
Note that this is just a small wave fluctuating around a few tens of percent and is in the final stage of the cumulative upward wave. You can completely ignore the small wave as a safe plan in the next bull-run wave. according to.
In the immediate future, Narratives surrounding LTC and Binance's products should be prioritized in the current stage based on the events that will take place in June and the recent FUD targeting Binance from Western newspapers.