The founder of Digital Assets Data announced that Binance CEO CZ is behind this altcoin project. Mike Alfred, the founder of BrightScope and Digital Assets Data, shared on his Twitter account. Alfred emphasized that someone is keeping the price of BNB, the native altcoin of cryptocurrency exchange Binance, high.
Mike Alfred questions who is behind Binance Coin
Mike Alfred, founder of BrightScope and Digital Assets Data, made a statement on his Twitter account. Mike Alfred said in his tweet that someone was behind Binance’s native altcoin, BNB. He also questioned who was involved. In addition, Alfred claims that he aims to ensure that the altcoin price is affordable.
Heavy selling pressure on BNB but someone is working really hard to hold the price up. I wonder who that could be. Would have to be someone who needs the BNB token to have value in order to stay solvent. Nobody immediately comes to mind.
— Mike Alfred (@mikealfred) November 28, 2022
However, the crypto community thinks that Binance CEO Changpeng Zhao can hold the altcoin’s price. The bankruptcy of FTX brought problems in the cryptocurrency market. Then, most of the investors announced that they lost their confidence. The crypto industry had just rebounded after the Terra LUNA incident. However, the collapse of FTX made the situation worse.
Also, there is a panic among the crypto community that puts heavy selling pressure on BNB.
BNB proved itself in bear season according to crypto community
The cryptocurrency community says Binance has survived this bear market and its native altcoin BNB has proven it. In addition, BNB has fallen by 0.80 percent in the last 24 hours. Currently, it continues to trade at $ 300.24. BNB currently has a market cap of $48,494,583,067. Meanwhile, Mike Alfred made the following statements in an earlier statement:
High bond yields, along with sharply higher rates, reflect genuine skepticism about the long-term viability of cryptocurrencies among institutional investors after the high-profile crashes of Terra (LUNA), Celsius Network, 3AC (Three Arrows Capital), Voyager Digital. We witnessed it again in BlockFi and FTX.
As we have reported as Kriptokoin.com; The fact that FTX turned into bankruptcy as a result of the liquidity crisis also surprised investors and analysts. It was seen that many investors turned to decentralized exchanges after the events. However, it is stated that the events that took place damaged the trust in the crypto industry. Binance CEO, on the other hand, previously said that the FTX crisis extended the bear market further. Following its crash, bonds issued by crypto exchange Coinbase (COIN) and Bitcoin investor business intelligence firm MicroStrategy (MSTR) have plummeted.
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