Showing posts with label binance lending. Show all posts
Showing posts with label binance lending. Show all posts

The Market's Weird Reaction To Binance's "Earn While You Sleep" Announcement - Native Token 'BNB' To Pay 15% Interest...

I figured today's announcement of Binance's new lending platform would at least have fans, and investors of their native token BNB acting bullish.

Reason being - part of the announcement includes a pretty generous interest rate of 15% for BNB holders who participate, and allow Binance to loan their coins out for use in margin trading (I've seen some confused people asking today - and no, you don't risk losing them)

All signs pointed to a big day for BNB ahead, bring on the green...

Ahead of the announcement Binance's CEO 'CZ' was teasing his followers that a big announcement was coming today, so finding out was one of the first things on my list to things to do when I woke up this morning.  There it was...

"Earn Crypto While You Sleep" his tweet read.

Guessing the returns offered wouldn't be higher than 12%, I read the announcement and see it's actually 15%, impressive.

So my next thought was to see the bump this surely gave BNB.

While the response on Twitter was positive, the BNB chart for today wasn't...

BNB has already has a pretty unique track record of over-performing, having launched at possibly the worst time possible - Mid 2017 when Bitcoin was trading around $2500, still crippled following the big crash.  It's up 9000% since then.

So all this is worth at least 5.00% gains today, right?

Nope, hours later BNB is still just lingering around in the red, at time of publishing -1.22%

Sometimes, the market just makes no sense...

That's really my only point today.  Because when I saw 'big announcement coming' I considered loading up on BNB. 

When I read the announcement I was kicking myself for not doing it.

It turns out, I avoided a (small) loss... this crypto stuff is wild.

Author: Adam Lee 
Asia News Desk