The post Is Binance Suppressing the Broader Crypto Market While Pumping BNB To New Highs? appeared first on Coinpedia Fintech News
Rumors are circulating once again that Binance may be unfairly influencing the crypto market. On-chain trackers show that the exchange could be generating fake trading volume to push the price of its own token, BNB.
Observers point to Binance’s billion-dollar dashboard, claiming it shows clear signs of suspicious activity. Tokens such as ORB and SHIELD are allegedly being used to spoof numbers and inflate trading volume, creating the appearance of demand where little exists.
Pressure on Other Assets
At the same time, accusations have surfaced that Binance is selling off other assets in large quantities, pushing their prices lower. Some analysts believe this strategy is designed to force liquidations of traders holding high leverage long positions, particularly those trading with 50x or 100x leverage.
Crypto analyst Dan Gambardello expressed his frustration, stating that it is exhausting to watch Binance suppress the broader market while pushing BNB toward new highs. He described the activity as blatant market manipulation.
“It’s exhausting watching Binance suppress the broader crypto market while they pump their coin $BNB to all time high,” he wrote on social media.
Current State of the Market
Despite the allegations, the entire crypto market is currently under pressure. The global market capitalization has slipped to $3.83 trillion, a decline of 1.25 percent. The Fear and Greed Index sits at 46, hinting at neutral sentiment among investors. The Altcoin Season Index stands at 42 out of 100, showing continued Bitcoin dominance.
Bitcoin dropped below $113,100 while Ethereum eased to $4,270, both showing mixed daily losses. Altcoins mirrored the decline, with XRP falling to $2.84, Solana retreating to $182, and Cardano sliding to $0.85. Even Dogecoin and Tron posted minor declines. BNB has also slipped in red at the time of writing.
