My lovely people, pay attention! 🎧 Because BNB, the currency of the Binance platform, which has brought joy to many of us, seems to be running on empty! ⛽️ Lately, things are cooler than the fridge, with people losing interest and sales rising like foam. This is a signal for us to be alert! 👀
Imagine that the atmosphere in the crypto world for BNB is not for parties. 🎉 Those buying and trading derivatives are feeling down, and the selling pressure is very noticeable.
The fever for BNB is fading! 🧊
If we look at what's happening on the blockchain, things are declining! The number of daily transactions, meaning how many people are using the network, has hit rock bottom! It dropped by 12.02%, reaching the lowest level of the entire month. It's like suddenly, at a party, people start leaving and no one else shows up. 🚶♀️🚶♂️
And speaking of no one showing up, the number of new addresses also plummeted by 25%! 📉 When there is interest in a currency, people create new wallets as if there were no tomorrow, but now it's the complete opposite!
The most concerning thing is that the most active addresses (the big players!) seem to be starting to sell. 💸 Those making more than 100 transactions a day increased their activity, but not to buy, rather to get out! And the total volume of money movements dropped by 8%, standing at $1.29 billion. That's a lot of money leaving!
The derivatives markets are turning their backs on BNB! 🥶
In the derivatives world (those bets on the future price of the currency), things have turned bearish. Those handling the options are closing contracts left and right, and the Open Interest in Options (which is like the thermometer of liquidity) fell by 71.36%, leaving only $3.09 million! This means people are closing their bets, and those who had contracts for the price to rise are running away. 🏃♂️💨
The funding rate weighted by Open Interest, which tells us the general sentiment of derivatives, has turned red! With a -0.0023%, this indicates that the majority of open contracts are from people betting that the price of BNB will continue to fall. The bears are in control, my people! 🐻
A liquidation of $36 million is coming our way! 😱
And to top it off, the spot market (where people buy and sell the currency directly) is reflecting all this drama. The sales volume skyrocketed, with traders selling $2.18 million in BNB to buy other coins or hold onto stablecoins! 😬
This has led to a capital outflow of $36 million in the last week! 💸 It's like people are pulling their money out of BNB to put it elsewhere. If this negative trend continues, it's very likely that the price of BNB will keep falling! So, let's stay alert and keep an eye on this situation, as things look a bit dark for the $BNB
