Topic: Binance shutting off US traders will BNB value suffer? - page 2. (Read 197 times)
Yes, because major user base and volume on binance exchange is coming from USA but at the same time we have seen that such bans do not matter much because people start using proxy services and even fake documents to approve the account from another country but we will see what hapoens in case of binance it will be clear in upcoming weeks.
I don’t see a problem with this, as far as I know that Binance is already working on developing a platform for US citizens. If you look separately at the BNB chart after this news, I will tell you right away at its price that this news didn’t have much impact as there are not so many US investors.
I think that this situation will not dramatically affect the volume. All people are smart and know how to use a VPN and how to buy fake documents on the black market.
Given how overextended the price of BNB is this year (It's gone up like 500%) then I think it can suffer dramatically. It'll probably take some time before the fundamentals of lower volume actually effects the value of BNB (given it's based on trading fees), but it will likely take an extended correction given recent news. Binance thrives off good fundamentals and as a reliable exchange, with the trading fundamentals being threatened, it's going to threaten the value of their project directly. In the meantime, some other exchange shitcoin will probably moon that is still supporting US customers, which one is anyone's guess though.
We all know that Binance blocked users from some countries especially users from US. How would this affect the valuation of Binance coin? As this video shows that majority of Binance traffic came from the US so we can somehow assume that majority of its trader came from that country. Have a look at this the graph :
click the image for explanation
Blocking this huge user will definitely have a huge impact to Binance volume and there is a posibility that this will have a negative effect on Binance coins price. Do you think that BNB can sustain its uptrend path after a huge users were block from trading in Binance platform? Would Binance maintain its spot as one of the largest exchange in the market in terms of volume.?
click the image for explanation
Blocking this huge user will definitely have a huge impact to Binance volume and there is a posibility that this will have a negative effect on Binance coins price. Do you think that BNB can sustain its uptrend path after a huge users were block from trading in Binance platform? Would Binance maintain its spot as one of the largest exchange in the market in terms of volume.?
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