I think this Chinese TL;DR from the queen is more useful than the English announcement.
She’s saying just three things:
1/ Binance spent $6.34 billion of its own money to buy BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC
2/ The Proof of Reserves snapshot is done. Verification will take a while, but you’ll be able to check it yourself in a couple of days
3/ Users holding other altcoins, don’t panic—they’re rushing to swap them
The key is point 3. The major coins are already 100% fully backed. The people who are really on edge are altcoin holders, and the queen addressed them specifically.
$BNB 1h: Current price 703.31; high 762.2 and low 680 over the last 120 candles, for a range of -4.62%.
Bollinger Bands: 700.99 / 704.64 / 708.28. Price is moving sideways around the middle band, with the market waiting for withdrawals to resume.
Support at 700 and 680. A drop below 700 would mean some people are still uneasy.
Do you think things will stay calm after withdrawals resume, or will there be a wave of net outflows? Comment “calm” or “outflows.”
#何一表示储备证明10种代币全额背书 #BNB #ContentMining
Just my opinion. Be aware of the risks. DYOR
She’s saying just three things:
1/ Binance spent $6.34 billion of its own money to buy BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC
2/ The Proof of Reserves snapshot is done. Verification will take a while, but you’ll be able to check it yourself in a couple of days
3/ Users holding other altcoins, don’t panic—they’re rushing to swap them
The key is point 3. The major coins are already 100% fully backed. The people who are really on edge are altcoin holders, and the queen addressed them specifically.
$BNB 1h: Current price 703.31; high 762.2 and low 680 over the last 120 candles, for a range of -4.62%.
Bollinger Bands: 700.99 / 704.64 / 708.28. Price is moving sideways around the middle band, with the market waiting for withdrawals to resume.
Support at 700 and 680. A drop below 700 would mean some people are still uneasy.
Do you think things will stay calm after withdrawals resume, or will there be a wave of net outflows? Comment “calm” or “outflows.”
#何一表示储备证明10种代币全额背书 #BNB #ContentMining
Just my opinion. Be aware of the risks. DYOR
