Recently, Binance made a move that attracted the attention of the Cardano community by pooling more than 1.73 billion ADA (equivalent to 1.1 billion USD) from corporate wallets into storage wallets that can participate in staking.
This action has raised many concerns:
🔸The risk of affecting Cardano's decentralization: Binance's holding of this huge amount of ADA could lead them to manipulate the Cardano network, affecting the decentralization that is one of the core values of the project. judgment.
🔸Impact on ADA price in the short term: The collection of ADA may reduce the supply of ADA in the market, leading to a short-term increase in ADA price. However, this could also lead to ADA price being manipulated by Binance.
However, there are also some opinions that:
🔹Binance is implementing a long-term investment strategy for ADA: The fact that Binance holds more than 1 billion ADA in the pools they operate shows that they have confidence in the long-term development potential of Cardano.
🔹Collecting ADA can help Binance increase liquidity for the exchange: Owning a large amount of ADA will help Binance better meet the ADA trading needs of users.
Currently, Binance is operating 92 Cardano pools, but only 31 pools have delegated ADA, so Binance holds more than 2.73 billion ADA (equivalent to 12% of total market supply), including user ADA on the floor.
Cre: Cardano Eco Talk | TreViet
