The FUD around the exchange has increasingly reflected on the coin. So, traders do not expect a major BNB uptick.
1,10,100 BNBs worth todayIn December 2021, Binance introduced the BNB Auto-Burn procedure. At that time, the crypto exchange mentioned that the motive behind the activity was to provide improved transparency to the BNB community.
This also includes adjusting the burn amount to reflect the demand and supply demand of the coin. Ever since the first BNB burn, the effect on the coin price has not been exactly eye-catching.But now, BNB’s troubles were beyond the impact of the burn mechanism. Instead, the FUD around the coin seems to be growing.
From the derivatives end, Coinglass showed that BNB’s long/short ratio has fallen below 1. At press time, the indicator was at 0.92.Typically, the long/short ratio is considered a barometer of investor sentiment. By looking at the amount of long buying and short selling, the indicator, when above 1, reflects a bullish perception.
Therefore, the drop in BNB’s case suggests that the average trader expects the coin price to fall. Like the long/short ratio, an
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