Bitcoin

Coin

<ul class="news-points"> 
 <li>A cryptocurrency analyst highlighted how important it is that BNB defends the $212 level.</li> 
 <li>There is speculation that U.S. regulatory bodies are strategically reducing their holdings of BNB to drive CZ out.</li> 
 <li>Over the past 24 hours, BNB’s price dropped by 1.14%, but was still able to stay above $212.</li> 
</ul> 
The <a href="https://coinedition.com/binance-coin-bnb-price-prediction/" rel="noopener noreferrer nofollow">price of Binance Coin (BNB)</a> has maintained a level above $212 due to specific factors influencing the market, according to a Twitter post shared by a cryptocurrency analyst yesterday. One of these factors is the existence of a BNB collateralized loans offered by Binance, which has a liquidation threshold at $212. 
This threshold was initially set at $220 in June this year, but it has been adjusted downward to $212. The analyst also pointed out in his tweet that Changpeng Zhao seems to be taking measures to safeguard the exchange’s stability. He has been observed selling Bitcoin (BTC) from a wallet address for TUSD (TrueUSD) and then using the proceeds to purchase BNB. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 There is a reason <a href="https://twitter.com/search?q=%24BNB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BNB</a> has not dropped below $212. Binance has a <a href="https://twitter.com/search?q=%24BNB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BNB</a> backed loan liquidating at $212 down from $220 after margin was added in June. Rationale: – <a href="https://twitter.com/cz_binance?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@cz_binance</a> is in self preservati… 
 </blockquote> 
 </div> 
</figure> 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/analyst-shares-why-it-is-important-for-bnb-to-stay-above-212/">Analyst Shares Why It Is Important For BNB To Stay Above $212</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Analyst Shares Why It Is Important For BNB To Stay Above $212

Coin Edition

Other articles published on Aug 19, 2023

SEC Acknowledges XRP as Non-Security in New Court Filing: Details

OpenSea NFT Community Could Jump Ship to Everlodge.io Here's Why

BNB Renewed Decline After Breaking Below Critical Support At 220

Alphabet Stock Price Prediction: Is Sell-Off Expected In GOOGL?

Bitcoin Price Decline as Investors Withdraw $1 Billion from Crypto

Coinbase’s ‘Stand with Crypto Alliance’ Gains Momentum Amidst Lawmaker Engagement Push

Join our free newsletter for daily crypto updates!