The proof is done, and that changes Tuesday from a fear event into a fact traders can check. ๐ฐ
Binance said on 2 November that it completed the zero knowledge proof for its 31 October snapshot, covering ten tokens, BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC, each backed at least one to one, with about 95 percent of the affected asset value replenished. Source: Binance.com, 2 November recovery update, also reported by Cointelegraph. ๐ My reading is that this is genuinely better than another delay, because users can now verify their own balances, but it is not a full clean bill, since the snapshot is 31 October, the remaining 5 percent is still less liquid tokens, and the next snapshot is due 4 November.
Does a completed proof calm the market, or does price stay heavy until the next snapshot? ๐ค
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #ProofOfReserves
Binance said on 2 November that it completed the zero knowledge proof for its 31 October snapshot, covering ten tokens, BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC, each backed at least one to one, with about 95 percent of the affected asset value replenished. Source: Binance.com, 2 November recovery update, also reported by Cointelegraph. ๐ My reading is that this is genuinely better than another delay, because users can now verify their own balances, but it is not a full clean bill, since the snapshot is 31 October, the remaining 5 percent is still less liquid tokens, and the next snapshot is due 4 November.
Does a completed proof calm the market, or does price stay heavy until the next snapshot? ๐ค
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #ProofOfReserves
