BNB up 12% Weekly as Whale Grabs $5.6 Million Worth of It

According to a recent X post published by the @lookonchain crypto tracker, a whale purchased 22,319 BNB worth $5.6 million and withdrew it from the Binance exchange during the last three days.

The whale then added these BNB to liquidity pools on the Biswap and PancakeSwap exchanges in order to earn trading fees from it.

The #BinanceBlockchainWeek is coming soon!

The price of $BNB has increased by 10% in the past week.

A whale withdrew 22,319 $BNB($5.6M) from #Binance in the past 3 days and provided liquidity on #Biswap and #PancakeSwap to earn trading fees.https://t.co/dQTc7OUNp2 pic.twitter.com/GIzxVT9mvF

— Lookonchain (@lookonchain) November 6, 2023

Between Friday, Nov. 3, and Tuesday, Nov. 7, Binance Coin (BNB) demonstrated a significant rise of more than 12%, hitting the $255 level. However, BNB then declined 3.40%, now trading at $246.

The other day, XRP managed to surpass BNB by market capitalization value on the CoinMarketCap scale as the Ripple-affiliated cryptocurrency took fourth place, pushing BNB to fifth.

However, soon after that, Binance Coin managed to regain fourth place from XRP.

CZ debunks rumors of new Binance product launch

Chinese cryptocurrency blogger Colin Wu reported that the Binance crypto behemoth had rolled out a new product called Binance Messenger in order to gain another billion users for the platform. However, CZ commented on that, calling the messenger an old product (internal app) for testing. Still, Binance Messenger can be downloaded from App Store.

On Nov. 6, CZ published a teaser – an 11-second video featuring the huge inscription “coming soon.” Changpeng Zhao stated that Binance Messenger is not related to that and promised to share more details during the upcoming Binance Blockchain Week event that begins on Nov. 8.

This is a small internal app being used for testing. Not news.

Unrelated to yesterday’s teaser. We’ll reveal that at #BinanceBlockchainWeek tomorrow. https://t.co/sTI42GdRoC

— CZ 🔶 Binance (@cz_binance) November 7, 2023

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