Binance.US Gets Green Light, But BNB Sleeps Like a Bear 🐻

In the grand theater of regulatory approvals, where the U.S. government plays both the hero and the villain, Binance.US has been granted the privilege to resume its USD services. Yet, Binance Coin [BNB], the supposed star of this show, remains as unimpressed as a cat ignoring a laser pointer. 🐱

Over the past 24 hours, BNB’s price has barely budged, slipping a meager 0.84%. This is not the stuff of market legends. Last week, BNB recorded its highest monthly loss, dropping 9.28%. But fear not, for AMBCrypto has yet to uncover any market triggers that could either reverse this loss or plunge it further into the abyss. 🎢

Binance.US, the U.S. arm of the global crypto behemoth, has received the regulatory nod to resume USD deposit and withdrawal services as of February 19. This comes after the Biden administration’s increased scrutiny from the SEC, which had previously halted these services. Now, eligible customers can once again deposit and withdraw USD via bank transfers, access USD trading pairs, and purchase crypto with fiat. 🏦

At launch, only 10 USD trading pairs—including BNB/USD—will be supported. One might expect this to herald a flood of USD into Binance.US, with U.S. investors rushing to buy BNB. But alas, the key metrics tell a different story. BNB trading activity remains as lively as a library on a Saturday night, and its price has yet to show any significant movement. 📉

Following the announcement, liquidity inflows into the BNB ecosystem have been as underwhelming as a lukewarm cup of coffee. The total value locked (TVL) stands at $5.527 billion—a mere $25 million increase from its February 18 low of $5.502 billion. This sluggish liquidity flow suggests that investor skepticism is alive and well, keeping BNB’s price under pressure. ☕

Data from Artemis reveals that trader confidence in BNB remains as weak as a handshake from a politician. Daily active addresses—representing unique wallet interactions within the ecosystem—have risen from 1 million on February 15 to 1.3 million. Meanwhile, daily transactions increased from 4.8 million to 5.6 million over the same period. 📊

While this suggests some renewed interest in BNB, it has not been enough to drive a meaningful price surge. The overall investor sentiment remains as cautious as a squirrel crossing a busy street. 🐿️

2025-02-20 17:19

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