Massive Crypto Sell-Off: Binance’s Mysterious Mischief? 🧐💸

by

Ah, dear reader, gather ’round! For in the wild world of cryptocurrency, a tempest brews, fueled by none other than the notorious Binance—a name that echoes like a specter in the hearts of traders! Rumors abound, claiming this modern-day dragon has been hoarding treasure yet conspicuously offloading it, particularly the shimmering Bitcoin and Ethereum jewels. This scandalous revelation first wafted upon the digital wind courtesy of a most curious market participant, AB Kuai.Dong (@_FORAB). What will he think of next? 🍿

Did Binance Unleash Chaos Upon the Market?

The crypto realm, my friends, has been anything but serene lately. Picture it: Bitcoin, the grandest of them all, plummeting like a clumsy pigeon to a paltry $92,000 on that fateful day of February 3rd. There was hope, a fleeting dream as it fluttered up to $98,000 on February 11, only to crash back down with all the grace of a sack of potatoes. Now, it lingers like a lost soul at around $95,000, contemplating its existence. 📉

Not to be outdone, the once-mighty Ethereum, on the same wretched day of Bitcoin’s misfortune, teetered below a meager $2,470, a mere shadow of its former glory. Oh, the irony! Can we blame our dear friend Binance for this pandemonium? AB Kuai.Dong suggests just that! He claims Binance’s crypto coffers have been shedding their jewels faster than a forgetful nobleman at a soirée.

The figures, oh dear lord! A staggering 94.1% drop in Binance’s Bitcoin haul and a mind-boggling 99.9% plummet for Ethereum! Imagine, if you will, the terror-stricken faces of Binance’s accountants! One can hardly bear it! Even BNB and Solana felt the sting of this unprecedented decline, alongside the notoriously ill-favored Tether USDT. Quite the conundrum, is it not? 💔

Many, like the astute AB Kuai.Dong, have noted that these liquidated assets were largely treasure amassed from Binance’s own adventures rather than mere peasant funds. And guess what—some of these erstwhile cryptocurrencies have now transformed into a cozy pile of USDC, swelling Binance’s coffers by a remarkable 57.5%!

Binance’s Denial: A Comedy of Errors

As news spread like wildfire amongst crypto enthusiasts, an uproar ensued! Traders, seeking answers to this sudden bout of market melancholia, turned to the grand oracle that is Binance! Would this mighty exchange, the titan of the crypto seas, face the music for such frivolous selling? Alas, Binance quickly waved it off as mere “internal accounting adjustments.” Oh, the audacity! Assurance flowed forth: no worry, dear users; your treasure is safe, secure, and snug as a bug in a rug within the warm embrace of Binance. 😅

As we pen this tale, Bitcoin, that restless spirit, is trading at $95,740—a limp 2.6% decline in the last day, while Ethereum trails with a sorrowful $2,600 at 4.2% off. One can only wonder which absurd plot twist awaits us next in this thrilling circus of crypto delights!

Read More

2025-02-12 22:17