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0:00:00 Binance Coin (BNB) At Risk, May List Libra But Prices Are Down 12.1%
0:00:06 This update is brought to you by “CoinCheckup News Updates” and was originally published on “NewsBTC”.
0:00:13 The exit of US clients will shave Binance’s trading volumes.
0:00:17 To counter that, they may end up listing Facebook’s Libra upon roll out.
0:00:21 Talks are in a preliminary stage.
0:00:24 Meanwhile, BNB is down 12.1 percent from last week’s close.
0:00:29 It may be the largest exchange by trading volumes, but that title is under threat.
0:00:34 With the SEC firm on their interpretation of what a security is, the exit of US clients will negatively impact Binance trading volumes.
0:00:41 One thing is highly likely, like Huobi, Binance Coin would not be available for trading in the US.
0:00:48 It’s only a matter of months before that becomes a reality.
0:00:51 The impact could be moving for BNB holders with the only path of least resistance being southwards.
0:00:57 On the chart, fractures are beginning to form as BNB prices stagnate below $40. Their plans of listing Facebook’s Libra could reinvigorate interest in the exchange token, temporarily buoying prices.
0:01:10 At least that is a business decision Binance as a for-profit firm won’t want to miss on.
0:01:15 “We have had an official dialogue with Facebook.
0:01:18 With regarding listings specifically, right now they are going to be on a so-called “private chain.” So that means they won’t be looking for external liquidity.
0:01:26 However, from what we understand the potential to be, that would lead to wanting a secondary market.
0:01:32 Price wise, BNB is trading 12.1 percent lower from last week’s close at the time of writing.
0:01:38 Under pressure, bears could step up in days ahead.
0:01:42 Visibly, bull momentum is waning after six months of impressive gains.
0:01:46 Thanks for watching this video!
If you wanna read the whole article you can go to CoinCheckup.com or go to: “NewsBTC”, who originally published this news update on their website.
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