"Using BNB to Go Long on Mubarak" on APX Finance is addressed by CZ

In response to rumors that he had a long position on APX Finance with Mubarak utilizing BNB, Binance founder Changepeng Zhao (aka CZ) addressed the matter. The first ever on-chain perpetual contract test was carried out today, according to CZ's announcement. My only goals are to get a feel for it and see whether the maximum extractable value (MEV) issues have persisted. In addition, he said that CZ has no experience trading contracts on Binance (CEX), which would come as a surprise to some. "But I've watched a lot of product demos," CZ chimed in.

CZ on Mubarak's Going Long

We previously learned that CZ opened a 24.7x leveraged long bet on Mubarak with 0.04 BNB utilizing a public contribution address. We have since closed the job.

Concurrently, APX had a significant surge, increasing 26% from $0.64 to $0.81, and Mubarak also witnessed a noteworthy boost, up 5.5% from $0.146 to $0.154.

"Doing some on-chain testing as usual on Sunday, nothing to get excited about," CZ said on social media in reaction to the transaction.

At the moment, Mubarak has increased in value by more than 22.6% and is trading at $0.1492. A 10% increase, or $147.49 million, has been added to the market value. With a 93% increase, the 24-hour trading volume is now $228.47 million.

#CZ #MubarakCTO #BNBChainMeme #VoteToListOnBinance #BinanceAlphaAlert $BNB @Mubarak CTO