Bynance Address ‘Dumping Ete and Sol’ charges

Binance finally responds to online traders accusing the exchange of market manipulation “by rejection” millions of salt and eth tokens through Wintermute.

In a recent mail Divided Account for Binance Support, Binance answered the merchant wondered about chain data that showed Bynank’s new wallet “sending” millions of Solana (Salt) and Etherum (El) Tokens from his bosses 24. February. The merchant accused the exchange of “delaying at all” by transferring the tokens.

Appropriate to comment, Stage She denied the accusations that “threw” or “sold” millions of tokens. He argued that many traders simply “misunderstand” transactions on the chain connected with Wintermute.

“As an exchange, we simply help users match the stores and we have no visibility in our customers, including market creators who can move their property to their strategies,” explained binance “explained binance in recent post.

The stock market warned traders not to “move on to the transaction screen shot” and that they should learn to recognize tactics that inspire fear, insecurity and doubt or market in the market.

In addition, Binance called on their users to learn more about how market products such as Wintermuts act to better understand their role in liquidity relief.

24. February, Arkham Intelligence data showed a binac movement At least 103.570 Salt ($ 16.32 million at the time) and about 25,000 ETE ($ 80 million) on the Market Manufacturer of Wintermute. Many traders interpreted it as bynance sales or threw these tokens from their crypting means through Wintermute.

Investors and traders saw the event as an indication that Binana prepared for market instability, which could affect the amounts of liquidity and trade for salt and eth. Just a day later, crypto market collapsed Since the price of Bitcoin fell below $ 90,000, which led to liquidations that exceeded Billion dollars.

At the time, traders accused bynance, bibite and other major centralized exchange of “manipulation” market with mass sales and price. However, there is no final evidence that support these claims.

In relation to the sampling, the exchange claimed to hire the market surveillance program on its platform that acts to detect and prevent market manipulation and provide “market environment in the market”

Why did the byncs send tokens on Wintermute?

Market manufacturers are companies or entities that specialize in the provision of liquidity in the Cropto market by setting up the purchase and sales order, thus tightening the ways to tighten bids and enabling smooth trading activities. Market manufacturers keep a market-on-the-crypt market because they absorb large orders, reduce the price drop and contribute to market stability.

Exchange like binance usually partners with market manufacturers providing them tokens as a bonus or incentive to create a market to continuously increase their inventory. By doing this, market creators like Wintermute can improve liquidity on the platform.

One analyst at x explained That binance did not sell tokens on Wintermute, but winter time dragged tokens from a bunal farm to maintain market liquidity.