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Economy => Speculation => Topic started by: 2double0 on July 29, 2021, 08:21:47 PM



Title: Do you agree with Binance's behavior?
Post by: 2double0 on July 29, 2021, 08:21:47 PM
https://i.ibb.co/vBvqP2P/Ss.jpg

In the image above, that pump took place in futures markets on Binance's BTC-USDT perpetual pair on 26 Jul, 2021. You can check the spot charts that there was no $12k pump during when it pumped in futures. The volume at spot was also not so good, but that $12k futures candle had a 182k btc traded volume for that hour only. This cannot be any institution or a normal person's work, I smell something fishy here to attack the traders and decide the trend, change it and liquidate them to make quick money.


Title: Re: Do you agree with Binance's behavior?
Post by: Boov on July 29, 2021, 09:01:46 PM
~snip~

In the image above, that pump took place in futures markets on Binance's BTC-USDT perpetual pair on 26 Jul, 2021. You can check the spot charts that there was no $12k pump during when it pumped in futures. The volume at spot was also not so good, but that $12k futures candle had a 182k btc traded volume for that hour only. This cannot be any institution or a normal person's work, I smell something fishy here to attack the traders and decide the trend, change it and liquidate them to make quick money.

Based on the chart, it seems that there's an attempted manipulation happening mate and partly I agree on your analysis that situation turned out fishy. Much better if we choose spot instead of futures, because that system in binance was governed by trading bots or operated by real time traders who've been working for them. We can't beat the computer, they're monitoring our activities so just avoid this type of trading section if you think you're losing much.


Title: Re: Do you agree with Binance's behavior?
Post by: Slow death on July 29, 2021, 09:05:52 PM
this is very weird and to be honest it's the first time I see it. but months ago i saw something strange in binance, the price of bitcoin dropped a lot in a few minutes and binance had frozen, if memory serves me correctly i had bought LTC for the price of $205 and in a few minutes binance froze and the price of LTC dropped to $128 and went back up a little, for me it was irritating because binance had frozen just at the time of price drop a lot and my stop-loss was not triggered strangely either. there are strange things in binance it even looks like they are taking advantage of these big falls and price increases


Title: Re: Do you agree with Binance's behavior?
Post by: Yaunfitda on July 29, 2021, 10:35:47 PM
Definitely, it's been suspected that Binance might have something to do with it behind doors. And I also heard that a lot of traders saw this unusual spike in the price and many have been complaining against Binance specially spot traders. It could be a glitch or something went wrong. But according to them, someone place huge number of buy order for BTC/USDT during the market mayhem that time causing a large candlewick to appear. But still doesn't make sense to me.



Title: Re: Do you agree with Binance's behavior?
Post by: adaseb on July 30, 2021, 03:31:26 AM
From those that don't know. This was nothing but some type of API error. The CEO of Binanace already talked about it on his twitter. Nobody got liquidated and even if you had a limit sell order in that number, you would of never got a fill.

Binance futures is VERY liquid and this shouldn't happen and most likely wouldn't. Even if it did, nobody would get liquidated unless the mark price was also that high because that is how liquidations are done. They are based on an index price and not on last traded price. Hence no liquidations however stop losses and limit sells would be affected.

However this was an error due to some API and its incorrectly displayed. Nobody I know managed to get an actual BTC sell at those prices compared to what happened in the spot market.


Title: Re: Do you agree with Binance's behavior?
Post by: cryptoaddictchie on July 30, 2021, 05:11:11 AM
From those that don't know. This was nothing but some type of API error. The CEO of Binanace already talked about it on his twitter. Nobody got liquidated and even if you had a limit sell order in that number, you would of never got a fill.
So it just means that the price action based on the chart is pure glitch only? Ive never read this announcement by CZ but its good that this is was cleared on his side. But to be honest the chart is so weird and really unfair within the given time frame and that disarray of spike.

Anyone traded future during this time?

However this was an error due to some API and its incorrectly displayed.
This sometime confuses the traders and become suspicious more due to that.


Title: Re: Do you agree with Binance's behavior?
Post by: maxreish on July 30, 2021, 05:14:55 AM
Definitely, this has something to do with those NFT crypto games which make you buy BNB coin to transfer in metamask wallet and convert it into some of their coins to enable them to play. Most of those NFT also use Binance exchange and BNB. As the trend for those games recently hit the market, probably the reason why it spike suddenly like that.


Title: Re: Do you agree with Binance's behavior?
Post by: Kong Hey Pakboy on July 30, 2021, 05:26:52 AM
Definitely, this has something to do with those NFT crypto games which make you buy BNB coin to transfer in metamask wallet and convert it into some of their coins to enable them to play. Most of those NFT also use Binance exchange and BNB. As the trend for those games recently hit the market, probably the reason why it spike suddenly like that.
Is there anything wrong with that I mean that's the only way you can buy those NFT to play the play to earn feature of those games so I don't see where you're getting at because it's not inherently a bad thing although if there really is a manipulation then what can we do? Boycott them? What we have to be doing is being vigilant at all times on the signs of a market manipulation.


Title: Re: Do you agree with Binance's behavior?
Post by: erep on July 30, 2021, 08:42:16 AM
However this was an error due to some API and its incorrectly displayed.
This sometime confuses the traders and become suspicious more due to that.
Thankfully CZ had confirmed the suspicious liquidation move, as the digital trail would record and spread it on bad assumptions. I like their responsive behavior when an exchange system error occurs, they confirm honestly if the API is not working properly.


Title: Re: Do you agree with Binance's behavior?
Post by: Dhaniii on July 30, 2021, 08:56:37 AM
However this was an error due to some API and its incorrectly displayed.
This sometime confuses the traders and become suspicious more due to that.
Thankfully CZ had confirmed the suspicious liquidation move, as the digital trail would record and spread it on bad assumptions. I like their responsive behavior when an exchange system error occurs, they confirm honestly if the API is not working properly.

they always say so, if this is a mistake apologies. but it is necessary to correct the mistakes or omissions made, so that in the future it does not happen again in such a way.
I also confused the graph which was so protruding up in a sudden and down at the same time.


Title: Re: Do you agree with Binance's behavior?
Post by: erep on July 30, 2021, 09:13:32 AM
they always say so, if this is a mistake apologies. but it is necessary to correct the mistakes or omissions made, so that in the future it does not happen again in such a way.
I'm sure the binance team doesn't want this to happen but CZ quick response is commendable, not all CEO are friendly and respond to system errors except for very fatal errors.

I also confused the graph which was so protruding up in a sudden and down at the same time.
You can refer to the post above for the basis for the suspicious increase in liquidity, https://bitcointalk.org/index.php?topic=5351826.msg57575022#msg57575022


Title: Re: Do you agree with Binance's behavior?
Post by: Gozie51 on July 30, 2021, 11:06:36 AM
From those that don't know. This was nothing but some type of API error. The CEO of Binanace already talked about it on his twitter. Nobody got liquidated and even if you had a limit sell order in that number, you would of never got a fill.


That would have been a great lose if traders orders were filled. Nice to bring this information and I think CZ has done well to educate traders. The spike is abnormal as it didn't reflect on most platforms except binance, perhaps there was an error that caused the pump.


Title: Re: Do you agree with Binance's behavior?
Post by: Wind_FURY on July 30, 2021, 11:31:12 AM
OP, but you should take it into consideration that the perpetual futures market, and the spot market are two different markets, one with 100x leveraged trading, and the other none. It’s possible that a small surge in the perpetual futures market caused a short squeeze, that liquidated many accounts that had high leveraged short positions which also caused the small surge into a sharp surge.


Title: Re: Do you agree with Binance's behavior?
Post by: Husires on July 30, 2021, 05:07:09 PM
It's not the first time I remember a similar story from Coinbase where the change in price was so vast.

https://imagizer.imageshack.com/img922/4283/5S4El7.png
https://imagizer.imageshack.com/img923/8584/vJHVI6.png
I do not know if everyone affected by this matter will be compensated, but you can contact the support team and they will give you accurate answers.


Title: Re: Do you agree with Binance's behavior?
Post by: cryptoaddictchie on July 31, 2021, 05:57:53 AM
Thankfully CZ had confirmed the suspicious liquidation move, as the digital trail would record and spread it on bad assumptions. I like their responsive behavior when an exchange system error occurs, they confirm honestly if the API is not working properly.
They should cause if not its only will be a bad publicity on their end anway.

CZ is a smart guy and he knows that if he fail the users of his exchange it could lead to a more negative impact on his company. We all knew that there are some issues his facing now but I believe this will be fixed. So the issue on this particular incident should be reported honestly for his sake too.


Title: Re: Do you agree with Binance's behavior?
Post by: hatshepsut93 on July 31, 2021, 09:40:07 PM
Don't they have x125 or x150 leverage on their perpetual futures? Crazy things can happen with such leverage, if it's not some software bug, of course. There's no rule that says that the price of derivatives should match the spot market price, after all, what would be the point of having derivatives?


Title: Re: Do you agree with Binance's behavior?
Post by: Yamifoud on July 31, 2021, 11:50:05 PM
It's not the first time I remember a similar story from Coinbase where the change in price was so vast.

https://imagizer.imageshack.com/img922/4283/5S4El7.png
https://imagizer.imageshack.com/img923/8584/vJHVI6.png
I do not know if everyone affected by this matter will be compensated, but you can contact the support team and they will give you accurate answers.
CZ had already explained it on social media. That is actually weird, if it is either CZ is telling the truth or not at least we found something that we need to be aware of the situation and must act safely in order not to get surprised about their next actions.
Well, I'm still going to trust Binance but this time, I have to limit my funds on them and not even stay there longer to avoid any unnecessary things like what happened to the other exchanges. It is better to make it safe rather than regret it later.


Title: Re: Do you agree with Binance's behavior?
Post by: adaseb on August 01, 2021, 04:23:43 AM
Don't they have x125 or x150 leverage on their perpetual futures? Crazy things can happen with such leverage, if it's not some software bug, of course. There's no rule that says that the price of derivatives should match the spot market price, after all, what would be the point of having derivatives?

Yes the leverage is that high however most people don't use that much leverage. I think the average leverage used is like 5-10x. The ones that use 100x are usually the small accounts which are trading with $100. So even with 100x leverage, the make they can trade is $10000 sizes which is very little in todays standards. So even if they get liquidated it won't cause a huge cascading liquidating candle.

The issue with Coinbase above was due to leverage and hence why there is no more leverage on Coinbase. Because almost everyone on Coinbase longs on leverage and there wasn't enough people shorting on leverage that it just took one event like that to cause a huge cascading liquidation event. Hence why there is no more leverage there and they never had issues since.


Title: Re: Do you agree with Binance's behavior?
Post by: virasog on August 01, 2021, 08:04:04 AM

In the image above, that pump took place in futures markets on Binance's BTC-USDT perpetual pair on 26 Jul, 2021. You can check the spot charts that there was no $12k pump during when it pumped in futures. The volume at spot was also not so good, but that $12k futures candle had a 182k btc traded volume for that hour only. This cannot be any institution or a normal person's work, I smell something fishy here to attack the traders and decide the trend, change it and liquidate them to make quick money.

This was pure manipulation by binance and nothing else. Binance is playing dirty games these days and usually do such things to liquidate people. Remember, they can't do this forever and sooner or later, we will see a downfall in binance. If you are still trust binance and keep your funds there, it's your own fault.


Title: Re: Do you agree with Binance's behavior?
Post by: Reid on August 01, 2021, 09:00:48 AM
This was pure manipulation by binance and nothing else. Binance is playing dirty games these days and usually do such things to liquidate people. Remember, they can't do this forever and sooner or later, we will see a downfall in binance. If you are still trust binance and keep your funds there, it's your own fault.
Members above said CZ cleared this out.
I am having a hard time looking at where it is, I am not good at digging twitter.
But there is one I found about Wall Street Journal with Binance users trying to file a lawsuit about the 1-hour freeze that made traders lose their money from leveraged bets. That's July 11 though.
OP's questionable event happened on July 26. It seems like they are having trouble too often with their API which will raise a lot of eyebrows.


Title: Re: Do you agree with Binance's behavior?
Post by: GreatArkansas on August 01, 2021, 09:53:10 AM
To be honest, this is very difficult to identify if it was really a mistake by Binance. This is one of the disadvantages of using a centralized exchange.

OP is right, it is already fishy since it only happened on Binance Futures, not even on Binance spot BTC/USDT, and if even you look on other exchange futures markets, no $12k pump happened in just a few seconds.
Binance got no any published statement on what happened during that time, we don't even also know if there are some traders got affected about that, like liquidations or order executed, it could be only a bug? No one knows.


Title: Re: Do you agree with Binance's behavior?
Post by: wallet4bitcoin on August 02, 2021, 04:38:08 AM
Not only binance I face it with other exchanges also. Even I don’t understand now why that happen. No volume but big pump candle. As I remember, maybe I was face it with MXC spot trade.


Title: Re: Do you agree with Binance's behavior?
Post by: CryptocurencyKing on August 02, 2021, 01:11:33 PM
BTC at $48k, its definitely a manipulation by Binance @OP. There is nothing far from a price manipulation being down there in order to tempt traders in to having a buy sentimental idea when there should have been selling and in the short run, once they observe the kind of responsiveness they have hoped to get, you see the reverse as shown by the long wick of the candle. It's too obvious to be an ordinary price action market response.

It goes a long way to prove that, In terms of an over run bear move, for which I suppose this wasn't it when compared to the bear move that followed the bullrun of 2017 as shown by statistics to have taken almost 2years, this is far more mid what we experienced lately but then, its unwarranted for binance to act this way as, it would live traders to loose trust in the market.


Title: Re: Do you agree with Binance's behavior?
Post by: stadus on August 02, 2021, 01:54:53 PM
We should be careful as this might be an inside job, as Binance getting more popular, they got the biggest volume so a sudden price movement in favor of them will give them easy money. we are talking of millions of money here, if investors think there was something wrong within the exchange, then they should be reported and get investigated.


Title: Re: Do you agree with Binance's behavior?
Post by: 2double0 on August 04, 2021, 08:35:04 PM
For my friends talking about leverage here, if it was not the reason then why did the volume of that candle spiked up to 180k btc? Was that something usually seen? I never saw it before. And some guy said that CZ clarified this and nobody got their stops hit, but I know some friends who got their positions filled later at their take profit levels near $45k and doesn't it also mean that shorts got liquidated 100%?


Title: Re: Do you agree with Binance's behavior?
Post by: Clavulanic on August 04, 2021, 09:16:38 PM
We can't stop this thing called manipulation here, and it may sound obvious to see as we analyze but we can't complain the actual situation happening on their futures system. Only that that's best for us to prevent this scenario to potential drag others, is to avoid themselves on this kinds of trading activities. This has no better future for those people without proper knowledge on handling this certain trading, it's more like gambling which you really don't know what will going to exist in the futures of your trading.


Title: Re: Do you agree with Binance's behavior?
Post by: rahmatrf331 on August 05, 2021, 12:50:55 AM
It's not the first time I remember a similar story from Coinbase where the change in price was so vast.

https://imagizer.imageshack.com/img922/4283/5S4El7.png
https://imagizer.imageshack.com/img923/8584/vJHVI6.png
I do not know if everyone affected by this matter will be compensated, but you can contact the support team and they will give you accurate answers.
CZ had already explained it on social media. That is actually weird, if it is either CZ is telling the truth or not at least we found something that we need to be aware of the situation and must act safely in order not to get surprised about their next actions.
Well, I'm still going to trust Binance but this time, I have to limit my funds on them and not even stay there longer to avoid any unnecessary things like what happened to the other exchanges. It is better to make it safe rather than regret it later.

This graph may lead to a variety of our understanding, we have done some analysis and confusing. it seems that investors have in a community network when someone influential says that the token will be bearish, then investors together withdraw their funds in cryptocurrencies. it is very painful for those who have assets there.


Title: Re: Do you agree with Binance's behavior?
Post by: hello_good_sir on August 05, 2021, 12:54:57 AM
Binance has been so shady recently. I definitely would only deal with them if I had to.

They can try to justify these flash crashes and flash hikes away by saying they're expected, just as they did with their leveraged tokens plumetting in value. But at the end of the day, it's simply not plausible.

Besides, there are virtually no benefits to using them now that they have a much lower cap on withdrawals. That was the sole reason for using them in the first place, for the 2 BTC anonymous withdrawal cap.


Title: Re: Do you agree with Binance's behavior?
Post by: ethereumhunter on August 05, 2021, 05:27:57 AM
Agree or not, we can only accept what happens to Binance because we do not know the truth. Even if we knew that is manipulation from the people inside Binance, we could not do anything. We hope that will not happen in the future and hopefully, Binance can watch out carefully for what will happen inside their exchange. If that really happens, we can only congratulate people who use that moment to buy or sell their coin at a high or low price because that will be the best moment in their life to see that moment. I think that is happening in the other exchanges.


Title: Re: Do you agree with Binance's behavior?
Post by: conected on August 05, 2021, 03:11:43 PM
Agree or not, we can only accept what happens to Binance because we do not know the truth. Even if we knew that is manipulation from the people inside Binance, we could not do anything. We hope that will not happen in the future and hopefully, Binance can watch out carefully for what will happen inside their exchange. If that really happens, we can only congratulate people who use that moment to buy or sell their coin at a high or low price because that will be the best moment in their life to see that moment. I think that is happening in the other exchanges.
- Indeed, although this is not their first dark act but these are possibly the most overt acts, according to the latest announcement, after the manipulation occurred, they also reduced the leverage, a strategy to help people who lost in manipulation never have a chance to come back again. Complaints are many but the fact is that they are still the best exchange, users cannot oppose them, more precisely, except for them, we are also hard to find such a reputable exchange, can only take this as a lesson and get less involved in futures trading


Title: Re: Do you agree with Binance's behavior?
Post by: el kaka22 on August 05, 2021, 04:29:13 PM
This cannot be any institution or a normal person's work, I smell something fishy here to attack the traders and decide the trend, change it and liquidate them to make quick money.
Whether we agree or not, we cannot do anything about this; these are all just part of any leveraged market hence we need to just move on by accepting such kind of manipulations. Yeah, this kind of spikes are usually happening to trap small traders but those small traders (whales may not get liquidated for a $12k pump) must need to accept those losses because they are entering into leveraged the market after getting know about such a whales' manipulations.

This is most probably not a binance's thing but some whales manipulation in biannce markets. All leveraged traders must need to accept wherever they are trading as no one could assure these things will not happen outside binance markets.


Title: Re: Do you agree with Binance's behavior?
Post by: Silberman on August 05, 2021, 07:21:22 PM
From those that don't know. This was nothing but some type of API error. The CEO of Binanace already talked about it on his twitter. Nobody got liquidated and even if you had a limit sell order in that number, you would of never got a fill.

Binance futures is VERY liquid and this shouldn't happen and most likely wouldn't. Even if it did, nobody would get liquidated unless the mark price was also that high because that is how liquidations are done. They are based on an index price and not on last traded price. Hence no liquidations however stop losses and limit sells would be affected.

However this was an error due to some API and its incorrectly displayed. Nobody I know managed to get an actual BTC sell at those prices compared to what happened in the spot market.
That is good to know, because the first thing that I thought when I saw the chart that was posted by the creator of this thread was that there was some kind of error with the software of binance, and I immediately thought about all the money that people will lose under those circumstances, but if no one was liquidated at that price then this means that it was only some kind of glitch with the display of the price, but still it is really impressive so I'm glad that they gave an explanation for what happened.


Title: Re: Do you agree with Binance's behavior?
Post by: 2double0 on August 05, 2021, 07:59:27 PM
That is good to know, because the first thing that I thought when I saw the chart that was posted by the creator of this thread was that there was some kind of error with the software of binance, and I immediately thought about all the money that people will lose under those circumstances, but if no one was liquidated at that price then this means that it was only some kind of glitch with the display of the price, but still it is really impressive so I'm glad that they gave an explanation for what happened.

Even if nothing happened, we all know ffs that these things usually happen in crypto if you ever traded at bitmex. Bitmex used to liquidate the most powerful sides of the coin like if shorts are trending, then it gave a long wick and inverse during the longs' power. I have already clarified that some of my friends got their profits because of this pump while those who were shorting and did not have any sl, lost everything. If it was a glitch, this should not have happened.


Title: Re: Do you agree with Binance's behavior?
Post by: ethereumhunter on August 06, 2021, 01:35:35 AM
Agree or not, we can only accept what happens to Binance because we do not know the truth. Even if we knew that is manipulation from the people inside Binance, we could not do anything. We hope that will not happen in the future and hopefully, Binance can watch out carefully for what will happen inside their exchange. If that really happens, we can only congratulate people who use that moment to buy or sell their coin at a high or low price because that will be the best moment in their life to see that moment. I think that is happening in the other exchanges.
- Indeed, although this is not their first dark act but these are possibly the most overt acts, according to the latest announcement, after the manipulation occurred, they also reduced the leverage, a strategy to help people who lost in manipulation never have a chance to come back again. Complaints are many but the fact is that they are still the best exchange, users cannot oppose them, more precisely, except for them, we are also hard to find such a reputable exchange, can only take this as a lesson and get less involved in futures trading
They know that their customer is hard to find the other exchanges that can compete with them, so they think, "Hey, I want to do this for a moment. I hope you do not mind".

If there is no bigger exchange than Binance, the customer will not move from Binance. It seems that if the exchange is becoming bigger, they can do that thing for some time and their customer will not complain for a long time.


Title: Re: Do you agree with Binance's behavior?
Post by: peter0425 on August 06, 2021, 02:22:29 AM
Agree or not, we can only accept what happens to Binance because we do not know the truth. Even if we knew that is manipulation from the people inside Binance, we could not do anything. We hope that will not happen in the future and hopefully, Binance can watch out carefully for what will happen inside their exchange. If that really happens, we can only congratulate people who use that moment to buy or sell their coin at a high or low price because that will be the best moment in their life to see that moment. I think that is happening in the other exchanges.
- Indeed, although this is not their first dark act but these are possibly the most overt acts, according to the latest announcement, after the manipulation occurred, they also reduced the leverage, a strategy to help people who lost in manipulation never have a chance to come back again. Complaints are many but the fact is that they are still the best exchange, users cannot oppose them, more precisely, except for them, we are also hard to find such a reputable exchange, can only take this as a lesson and get less involved in futures trading
They know that their customer is hard to find the other exchanges that can compete with them, so they think, "Hey, I want to do this for a moment. I hope you do not mind".

If there is no bigger exchange than Binance, the customer will not move from Binance. It seems that if the exchange is becoming bigger, they can do that thing for some time and their customer will not complain for a long time.
i must admit that i am a binance user for long time now , but i only trade in limited occasions .

there are issues about binance manipulations in the past and even those newly listed coins are unimaginary pumping but i believe that it was resolved already and not happening nowadays.


Title: Re: Do you agree with Binance's behavior?
Post by: palle11 on August 08, 2021, 02:39:57 PM
Not only binance I face it with other exchanges also. Even I don’t understand now why that happen. No volume but big pump candle. As I remember, maybe I was face it with MXC spot trade.

Again it is the negative side of having your coin in a centralized exchange. They can manipulate figures which can lead into pumping that is unexpected because traders will rely on the volume and figure to trade but they don't understand it is just manipulation from those exchanges. Trading in decentralized exchanges is surely the best. This is also why bitcoin becomes the biggest of all cryptocurrency because it is free of any influence.


Title: Re: Do you agree with Binance's behavior?
Post by: ene1980 on August 08, 2021, 04:08:54 PM
In the image above, that pump took place in futures markets on Binance's BTC-USDT perpetual pair on 26 Jul, 2021. You can check the spot charts that there was no $12k pump during when it pumped in futures. The volume at spot was also not so good, but that $12k futures candle had a 182k btc traded volume for that hour only. This cannot be any institution or a normal person's work, I smell something fishy here to attack the traders and decide the trend, change it and liquidate them to make quick money.
Do you really think that Binance will be transparent and will be willing to come out and say what really happened. They are running away from countries that ask them to be transparent and i bet they will keep on running until they clear all their wash trades and submit documents clearing them and that is what i am expecting what will happen in the future and there are chances they will die in the next 5 years.


Title: Re: Do you agree with Binance's behavior?
Post by: pealr12 on August 08, 2021, 07:39:50 PM
In the image above, that pump took place in futures markets on Binance's BTC-USDT perpetual pair on 26 Jul, 2021. You can check the spot charts that there was no $12k pump during when it pumped in futures. The volume at spot was also not so good, but that $12k futures candle had a 182k btc traded volume for that hour only. This cannot be any institution or a normal person's work, I smell something fishy here to attack the traders and decide the trend, change it and liquidate them to make quick money.
Do you really think that Binance will be transparent and will be willing to come out and say what really happened. They are running away from countries that ask them to be transparent and i bet they will keep on running until they clear all their wash trades and submit documents clearing them and that is what i am expecting what will happen in the future and there are chances they will die in the next 5 years.

It is not just binance only, most exchange are not transparent and will not be willing to come out and say anything, it is part of the game for them, even crypto users also run away from exchange that ask for kyc because they don't want to submit their personal data, which also indicate lack of transparency on the part of the users, it is a decentralized space with less interference from the law,  even if binance end up 6ft under, another similar one will rise up from scratch or from the existing ones.


Title: Re: Do you agree with Binance's behavior?
Post by: yhiaali3 on August 10, 2021, 07:40:37 PM
Of course, no one agrees with the suspicious behavior of Binance, it is a clear manipulation and this is not the first time, perhaps Binance is not directly responsible for this behavior and there may be something wrong with it, but this is not acceptable in all cases and this is the responsibility of Binance in the end, exchanges prevent pumps and this What happened pump should be prohibited in any case because it causes great losses to some traders, while others achieve huge profits in exchange for the loss of these poor people.
These things don't happen on Binance only I've seen a lot of platforms where such things happen and some people are exploiting such loopholes to make big profits.


Title: Re: Do you agree with Binance's behavior?
Post by: dothebeats on August 11, 2021, 05:58:35 AM
There are lots of things that I do not agree with Binance. Lots of suspicious activities lately, plus they seem to halt trading operations whenever there is a sudden sharp increase or decrease on some coins in their platform. That calls for some understandable boycott of their services IMO, but knowing that there isn't any better alternatives as of the moment, we just have to suck it up and deal with it until something better comes along.

Imagine losing millions just because the platform decided to stop trading in an instant without letting users know what's happening.


Title: Re: Do you agree with Binance's behavior?
Post by: Oilacris on August 12, 2021, 10:23:45 PM
There are lots of things that I do not agree with Binance. Lots of suspicious activities lately, plus they seem to halt trading operations whenever there is a sudden sharp increase or decrease on some coins in their platform. That calls for some understandable boycott of their services IMO, but knowing that there isn't any better alternatives as of the moment, we just have to suck it up and deal with it until something better comes along.

Imagine losing millions just because the platform decided to stop trading in an instant without letting users know what's happening.
I had already experienced such thing that whenever there's some such sharp price increase then they do really halt both deposits and withdrawals which do really sucks because you would really be missing out
those chances on making quick bucks due to sudden rise.

Yeah,its their behavior and is there something we can do? We can make out complaints and whining but no one would ever hear out and still the community been trusting up this platform.

Its still up to ours if we do continue to use the platform and deal with their behavior or would find another one.


Title: Re: Do you agree with Binance's behavior?
Post by: ajochems on August 12, 2021, 10:40:48 PM
https://i.ibb.co/vBvqP2P/Ss.jpg

In the image above, that pump took place in futures markets on Binance's BTC-USDT perpetual pair on 26 Jul, 2021. You can check the spot charts that there was no $12k pump during when it pumped in futures. The volume at spot was also not so good, but that $12k futures candle had a 182k btc traded volume for that hour only. This cannot be any institution or a normal person's work, I smell something fishy here to attack the traders and decide the trend, change it and liquidate them to make quick money.

Honestly no.Many of altcoin had crossed up his old values in this pump. By considering such fact, we need to see the value of 600 dollars in BNB. But it still floating at the 400 dollars. Huge people blindly buy some BNB at 200$ and earned huge in the BNB. Now it was not shinning up.