Since the second half of last year, BNB has been continuously weak.
Of course, the weakness here is relative to Bitcoin.
Personally, I feel that the continued weakness may have the following main reasons:
1. BNB's empowerment is insufficient, especially in recent months, making it seem like only alpha is the hotspot, and there’s not much connection between alpha and BNB holders.
2. BNB mining/airdrop is increasingly like a chicken rib. It seems lively, with several occurrences each month, but the yield is mostly less than 1%. So far this year, it's just a little over 5%. Of course, my sales may not be good either. However, the recent few have also had a yield of 0.1%, which is quite ridiculous.
3. BNB is too centralized, with 140 million mostly concentrated in the hands of shareholders, and whoever it is may not be willing to buy in large amounts.
4. BTC stands out, with a clear capital attraction effect, and not many have invested in BNB until now.
5. The founders and shareholders are unwilling to pump the price, and there’s no one else in the market who is willing to do so, so it’s ended up like this.
It's hard to know how likely the market is to rally. If CZ is unwilling to pump, then we can only wait for the market to gradually shift to hotspots.
After thinking it over, I still decided to slowly look for opportunities to change positions.
I paid my respects.
