Shocking! Binance sold off assets in January, with $8 billion of assets withdrawn from the market
Recently, Binance released new reserve data, like a bombshell, which caused a stir in the cryptocurrency field. In January this year, Binance launched a series of crazy asset disposal actions, the scale and speed of which attracted the attention of the entire industry.
[1] Bitcoin is almost cleared
Binance's Bitcoin reserves once reached $4 billion, which were almost sold out in this major asset change in January. As the leader of the cryptocurrency market, such a large-scale sell-off has undoubtedly brought a huge impact to the market.
[2] USDT is completely withdrawn
The stablecoin USDT also failed to escape the fate of being sold off in large quantities. Binance sold almost all of its USDT worth about $3 billion, which triggered market concerns about the stability of the stablecoin market.
[3] ETH is completely sold
Ethereum is also included in this asset disposal. All of Binance's ETH worth $700 million was released to the market at once, causing the Ethereum market to feel a strong selling pressure instantly.
【4】What is the impact of selling $8 billion in assets?
Overall, the total amount of assets sold by Binance in January was as high as $8 billion, accounting for more than half of its original $14 billion in asset reserves. This astonishing figure reflects the huge adjustment of Binance's asset structure. Such a large-scale asset sale has greatly increased the supply of cryptocurrencies in the market, had a significant impact on price trends, and market volatility has risen sharply.
At present, Binance officials have not yet made a clear explanation of the motivation for this large-scale asset sale. This incident not only confused investors, but also filled the entire cryptocurrency market with uncertainty. Everyone is paying close attention to Binance's subsequent actions, looking forward to obtaining more key information from official channels to solve the mystery behind this crazy asset sale.
