Entrepreneur and creator of the TRON (TRX) cryptocurrency, Justin Sun, calmed the panic of the cryptocurrency community by depositing $100 million on the Binance exchange. The fact is that over the past day, the value of the BNB cryptocurrency has fallen by 6%, and users have massively started withdrawing funds from the trading platform.
The entrepreneur himself tweeted a link to Etherscan, where it is shown that he sent 100 million USD Coin(USD) back to the exchange. Thus, San decided to demonstrate his trust in the largest cryptocurrency exchange service for digital assets.
It was noted that the outflow of virtual assets from the Binance platform reached a value of $1.8 billion. Nansen's data demonstrated that the bulk of the funds withdrawn from the exchange were sent to the Huobi platform. The net flow between the two platforms was about $162 million. Coinbase also saw a sharp increase in the influx of cryptocurrencies, especially during Asian trading hours. During the past day, the exchange received about $124 million.
In addition, it was noted that users were actively unfreezing their cryptocurrencies from smart contracts of decentralized finance protocols (DeFi) based on BNB Chain. This value has decreased by 4.5% in the last 24 hours.
The wave of anxiety of the cryptocurrency community was due to the fact that earlier many public figures, including representatives of financial regulators, criticized Binance's report on proof of ownership of reserves. In addition, many were concerned that Justin Sun had withdrawn a total of $50 million from Binance in recent days.
According to analytical services, the value of the BNB exchange token was fixed at $265.8, without overcoming the resistance level at $ 300.