The Binance Coin Value Drops As Others RisesteemCreated with Sketch.

in binance •  7 years ago 

Well being fair to the Binance community their coin has been going up hundreds of percents day after day week after week month after month. why would it start to fall now?

let me answer that for you

No.1 they burn tokens.

this many sound stupid to some as in economics having less supply means more demand and demand determines the price but if everyone starts selling after the burn that means that theres less supply in total but more supply on the market driving the price down.

no.2 Binance had alleged hacks

this drives uncertainty and fear into the exchange causing people to exchange their money from binance tokens and trade it for other cryptos that they can carry in a hard wallet.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!