BNB Chain's native token fell by more than 7%, while Binance token. (BU.S.) Relatively stable tokens have been injected into the login password in the past 24 hours with very high exchange funds, due to traders on BU.S. Reports that foreign investors Paxos are in trouble with laws and regulations abroad reflect this.
On Sunday, BNB tokens traded at more than $315 before falling to just over $290 within 24 hours. The nearly 7 per cent decline represents the main decline in key digital currencies, with BTC (BTC) and ETH (ethernet) slightly less than 3 per cent.
Coinglass statistics show that the futures settlement amount tracked by BNB is low, at $2.5 million, which means that the market is generally dominated by spot trading.
Elsewhere, about $52 million in value was transferred to the exchange within 24 hours, according to CryptoQuant statistics. According to CryptoQuant, any increase in the injection of tokens into the exchange is basically a bullish sign, as it may lie in the trader selling his tokens.
CryptoQuant said in the data information guide: "unlike freezing coins, entering the wallet shows the idea of turning coins into currency or stable coins."
However, CryptoQuant added that such inflows could also indicate that steady funds were used to enable collateral for commodity futures or to generally rebalance their asset allocation.
In addition, Hochan Chung, CryptoQuant's head of industry marketing, told WJB in a cable that the inflows may be due to concerns that redemption of Australian dollars from previous experiences with [data encryption Exchange] FTX and [WJB sister] Genesis may be suspected.
"however, both Binance and Paxos ensure that redemption will be managed without a problem," Zhong added, stressing that negative net cash flow fell after Binance founder Zhao Changpeng alleviated anxiety about the application of risk reserves in a tweet on Monday.
The Foreign Securities and Exchange Commission (SEC) declared on Sunday that the dollar is an unregistered securities, according to a report in the Wall Street Journal on Sunday. A few days ago, WJB reported that Paxos was conducting a survey by the New York City Department of Financial Information Services, but the scope of NYDFS's research was unclear.
Paxos sells Pax dollars (USDP) and Binance dollars. (BU.S.) Tokens, the second is the stable currency of Binance brand. Binance told WJB on Monday: "the currency is owned and managed by Paxos wholly owned by the state. As a result, the total market value of the dollar can only decrease over time.
A spokesman for Binance said: "Paxos also ensures that those assets are safe and completely covered by their bank's risk reserves."
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