Since the Oct 28 close, $BNB fell more than any major. $SOL is close behind.
Change from the Oct 28 close to now (Binance spot):
- ETH: -4.0%
- BTC: -4.4%
- SOL: -6.9%
- BNB: -7.5%
BNB taking the biggest hit makes sense. It's the exchange token, so the incident news hit it directly. Its Oct 29 low was 680.00, 10.5% under that day's open of 759.85.
SOL had no direct link to the news but fell almost as much. Higher beta does that in a risk-off week.
What I watch: if BNB starts beating BTC day by day once withdrawals reopen, the market is pricing the incident out. If it keeps lagging, it isn't.
Which gets back to its Oct 28 close first: BNB at 759.85 or SOL at 102.44?
Change from the Oct 28 close to now (Binance spot):
- ETH: -4.0%
- BTC: -4.4%
- SOL: -6.9%
- BNB: -7.5%
BNB taking the biggest hit makes sense. It's the exchange token, so the incident news hit it directly. Its Oct 29 low was 680.00, 10.5% under that day's open of 759.85.
SOL had no direct link to the news but fell almost as much. Higher beta does that in a risk-off week.
What I watch: if BNB starts beating BTC day by day once withdrawals reopen, the market is pricing the incident out. If it keeps lagging, it isn't.
Which gets back to its Oct 28 close first: BNB at 759.85 or SOL at 102.44?
