The recent developments in the Web3 ecosystem have led to the entire crypto market bleeding. But this one altcoin seems to be the least impacted.
Update 11 Nov. (17:30UTC): Following the announcement that Binance CEO Changpeng Zhao would be acquiring FTX.Com, The price of BNB soared as high as 23% reaching just under $400.
The battle between Binance CEO Changpeng Zhao (CZ Binance) and the FTX CEO Sam Bankman-Fried (SBF) seems to have gone full-blown. This morning, the FTX token (FTT) tanked by more than 30%.
The entire crypto market seemed to settle in over the last couple of months until the war between CZ Binance and SBF escalated. CZ Binance announced the decision to liquidate their FTT positions, and that raised insolvency concerns.
This altcoin stays afloat despite the blood in the entire market
While almost every crypto from the list of top 10 cryptocurrencies, according to the market cap, is down by nearly 5%, BNB seems to be the least impacted. BNB is down just 1.4% as of writing, according to BeInCrypto.
A popular crypto analyst, Miles Deutscher, believes that CZ is showing everyone who is the boss. But the community believes that CZ is a market manipulator trying to ruin the lives of private investors.
Source: https://beincrypto.com/only-one-altcoin-stays-afloat-while-the-crypto-market-bleeds/