Just when the crypto market attempted to move on from the downfall of FTX, a fresh round of FUD relating to Binance ignited. The price of Bitcoin (BTC) displayed some strength this past week, while the price of Ethereum (ETH) dropped over the last week. Binance’s native coin, Binance Coin (BNB), experienced the biggest slump over the last week.
BNB’s price dropped by as much as 20% over the last 7 days. The crypto market tracking website, CoinMarketCap, shows that BNB’s price has recovered, however, as its price is up more than 7% over the last 24 hours.
It is believed that the circulating FUD surrounding the largest crypto exchange in terms of trading volume will be the last major blow that the crypto market will have to endure in this bear cycle.
With the latest blow to the crypto market, investors and traders may drop the belief that we are in an altcoin season, or that one will start in the near future. Should this happen, crypto traders and investors may turn their focus back to the two crypto market leaders,
The post Investors May Shift Their Focus From Altcoins to BTC and ETH appeared first on Coin Edition.
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Source: Cryptocurrency - investing.com
