- CZ sends more emails to BNB users but FUD remains the same
- BNB weighted activity and sentiment is decreasing but traders remain positive
Due to the ongoing uncertainty in the crypto market, CZ sent personal emails to
lately developmentNote that CZ sent personal emails to each customer to reassure them Research and development about Binance. Despite CZ’s continued assurances of Binance’s solvency, the number of scams on the BNB chain could make it difficult for users to believe Binance and BNB.
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to me data Of Solidus Labs, 12% of projects on the BNB chain have been accused of fraud this year.
Skeptics remain skeptical
According to data from Santiment, the weighted sentiment around BNB has been negative over the past month. The negatively weighted sentiment indicated that the majority of the cryptocurrency community had more negative things than positive things to say BNB.
In addition, the number of social interactions on Binance has also decreased during this period. Based on data from LunarCrush, social engagement around BNB is down 24.9%.
Besides, the activity is on BNB The chain also went down. From the data provided by Santiment, it is noted that the number of daily active addresses on the BNB chain has dropped significantly in the past month. At the time of writing, the number of daily active BNB addresses is 2,749.
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Another indicator of declining activity on the BNB chain is the drop in the BNB rate. BNB speed has decreased significantly over the past few weeks. This indicates that the number of times BNB has moved addresses has decreased.
But despite the decline in sentiment and activity, forex traders remained optimistic about the future of BNB.
In the hands of merchants and owners …
According to data from coinglass, the number of long positions taken for BNB has increased exponentially in recent weeks. At the time of publication, 52% of traders have taken long positions in favor BNB.
Although traders were optimistic about BNB coin, its holders continued to suffer losses.
The market value to realized value (MVRV) ratio has fallen significantly in recent weeks. This can be seen in the chart below. A negative MVRV ratio means that if the majority of holders in BNB decided to sell their holdings, they would do so at a loss.
At the time of writing, BNB was trading at $243.52 and its price is down by 0.42%.