Despite the attempted recovery at the beginning of the year, Binance clearly has many challenges in the outlook for 2023. However, it also has some unique advantages.
Because part of its argument was FTX exchange has a “buy and burn” program – similar to stock buybacks – and Binance burns tokens out of quarterly profits – crypto exchanges are wary that BNB could be ruled a security.
born out of a global decentralized computer. And if Ether is a commodity and not a security, it would be pretty tough to make BNB stay a security. They were good for the money. Exchange executives have said on multiple occasions that Binance is ready to service and honor every single customer’s withdrawal request, even if it meant withdrawing every penny from the platform.There was no freeze on account withdrawals and new accounts. There were no bankruptcies or SEC investigations. Binance customers just got their crypto out or their money back out. They won’t forget that.
According to a recent report by Arcane Research, Binance’s share of BTC trading volume rose over 2022 to finish the year at 92% of trade volume. Arcane Research concluded: The price of bitcoin is a complex variable comprised of all kinds of macro, fundamental, industry, and technical factors. There’s no guarantee the bottom is in yet, and the crypto winter could go on for another year for all anyone knows until the market has moved.
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