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.
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Author: Adam Lee
Asia News Desk
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