Claims by Twitter users using BNB price as a credit indicator are incorrect. Mike Alfred added that the price of BNB represents what the CEO of Binance wants. Binance coin is trading at $256.94, gaining 4.4% over the past seven days.
Twitter user Mike Alfred argued that crypto enthusiasts are using the current price of Binance Coin (BNB) as a key indicator of health and bad credit. Alfred said that the price of BNB represents what Binance CEO Changpeng Zhao (CZ) wants to see until the next shock. Binance analyst also reported on Michael Burry and John Paulson’s The Big Short exchange in 2008.
If you’re using BNB price as a key indicator of your health and fitness, you’ll be completely blindsided by what might happen next. The price of BNB is just a representation of what CZ wants you to see, at least until the next shock happens. — Mike Alfred (@mikealfred) January 5, 2023
Alfred did not provide evidence when asked to use reliable sources to support his argument.
“BNB Price Rebounds After Negative Actors Cause Panic on Binance Exchange”
BNB is currently trading at $256.94, gaining 4.4% over the past seven days. Last month, Binance coin hit one of its lowest prices after negative actors created fear, uncertainty and doubt on the Binance exchange. The event caused crypto investors to withdraw more than $3 billion from Binance within 24 hours. Interestingly, the CEO of Binance said on Twitter that the big stop is far from the top five stops he saw fixing things during the LUNA and FTX fiasco.
Zhao added that FUD only brought a stress test to the exchange, which is a way to show his confidence in the crypto community. In another Twitter post, the president explained some of the reasons for this panic call against the company.
The CEO of Binance argued that some crypto enthusiasts hate centralization in the Web3 space, despite the benefits of centralized exchanges in promoting global crypto adoption.