Binance plans to reopen withdrawals for six tokens by Friday. Their prices tell a mixed story 📊
Binance says it aims to reopen withdrawals for HYPE, INJ, $APT , PLASMA, $NEAR and $LTC by the end of this week (Nov 13). Does a pause weigh on price?
Since Oct 28's close, the day before the hack, on Binance spot (as of 4:50 a.m. PKT, Nov 8): XPL (Plasma) -25.6%, NEAR -21.1%, APT -14.0%, LTC -11.9%, HYPE -3.6%, INJ +1.6%. BTC is -6.7%.
Four of the six lag BTC. But XRP, whose withdrawals are already open, fell 12.3%, close to the six's median of about -13%. With only six tokens, I can't say the pause explains the weakness.
My view: watch the reopening day itself. If prices rise on it, that's relief. If they don't, the weakness is the broader market.
Which of the six are you watching? 👇
#Binance #altcoins
Binance says it aims to reopen withdrawals for HYPE, INJ, $APT , PLASMA, $NEAR and $LTC by the end of this week (Nov 13). Does a pause weigh on price?
Since Oct 28's close, the day before the hack, on Binance spot (as of 4:50 a.m. PKT, Nov 8): XPL (Plasma) -25.6%, NEAR -21.1%, APT -14.0%, LTC -11.9%, HYPE -3.6%, INJ +1.6%. BTC is -6.7%.
Four of the six lag BTC. But XRP, whose withdrawals are already open, fell 12.3%, close to the six's median of about -13%. With only six tokens, I can't say the pause explains the weakness.
My view: watch the reopening day itself. If prices rise on it, that's relief. If they don't, the weakness is the broader market.
Which of the six are you watching? 👇
#Binance #altcoins