Place/Date: - March 12th, 2023 at 3:50 pm UTC · 4 min read
Source: TMS Network
In the cryptocurrency market, it is normal for coins to rise in value as others plummet. This is because the crypto market is largely affected by market sentiment and news events can cause the price of a coin to shoot up or plummet. The latest coins to be affected by news events are BUSD and BNB, which have dropped in value in recent weeks while TMS Network (TMSN), has continued to impress investors.
TMS Network (TMSN) is the first ever Ethereum-based all-in-one decentralized platform that allows investors to trade CFDs, Equities, Cryptocurrency, and Forex. The platform aims to disrupt the traditional trading industry by providing a seamless and enjoyable trading experience. For instance, all payments on the TMS Network (TMSN), even those being made for traditional assets such as Forex and CFDs can be made using cryptocurrencies. Additionally, every transaction is processed instantly.
TMS Network (TMSN) network will also address some of the most pressing issues in the trading market. These include hefty transaction fees, price manipulation, wash trading, inadequate trading experience, transaction delays, lack of price uniformity, and lack of trading education.
Because of the immense value the TMS Network (TMSN) network brings to the trading industry, investors have been quick to buy into the platform. The first stage of the TMS Network (TMSN) presale sold out two weeks before schedule, raising over $500,000 for the network. The price of TMS Network (TMSN) tokens has also risen to $0.032 and is expected to keep rising.
Binance coin (BNB) is an ERC-20 token issued by the Binance cryptocurrency exchange. BNB boosts the operations of the Binance exchange and its ecosystem by supporting different utilities such as listing fees, trading fees, and exchange fees among others.
Binance has been doing well as a cryptocurrency investment since it was launched. Recently, the BNB token has dropped slightly in price due to an increase in negative news about the Binance Exchange.
In February 2023, Forbes accused Binance of mismanaging investor funds by allegedly transferring $1.78 Billion in stablecoins to different hedge funds. Coinbase also announced that it will delist the Binance-affiliated Stablecoin BUSD.
Despite the negativity surrounding Binance, BNB has continued to stand strong as a well-performing crypto. BUSD, the cousin stable coin of BNB, has not been so lucky.
About 3 weeks after Paxos announced that it will no longer mint BUSD, the BUSD stable coin has fallen from the list of top 10 cryptocurrencies by market cap. The fall of BUSD has shaken the market valuations of other cryptocurrencies in the top ten list. For instance, there are now only two stablecoins in the list of top 10 cryptocurrencies by market cap.
The decline of BUSD has further intensified after Coinbase announced that it will be delisting the BUSD Stablecoin by march 13, 2023.
The fall of the BUSD cryptocurrency is mostly a result of the pressure that the SEC has been putting on Binance to get them to acknowledge BUSD as a security. Despite Binance and other major stakeholders in the crypto community agreeing that the BUSD Stablecoin is not a security, largely because there is no expectation for profit on the Stablecoin, the SEC demanded that the minting of the Stablecoin be halted.
Only time will tell what the future holds for the Binance Stablecoin BUSD. However, in the meantime, investors can turn their attention to better-performing coins like TMS Network (TMSN), which hold a lot of potential for growth in the coming months. Learn more about TMS Network (TMSN) in the links: Presale, Whitepaper, Website, Telegram, Twitter.
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