The cryptocurrency market is heavily swayed by rumors and media news. Therefore, the market is now going down as a result Russia’s latest announcement to draft a law that’s going to criminalize using cryptocurrency as money. This is the worst news that the cryptocurrency market could get and some of the world’s biggest altcoins are going down because of that.
Binance Forcefully Sells Tokens
One of the worst thing to come out of this is the fact that Binance which is a huge cryptocurrency exchange is forcefully selling tokens at the market price. To make things even worse, Binance is not even asking for approval from holders or notifying them.
Community Lashes Back
The community obviously lashed back and Binance answered with this following statement: “We are investigating reports of some users having issues with their funds. Our team is aware and investigating this issue as we speak. Please remain patient and we will provide an update as quickly as possible”.
From the looks of it, Binance is saying that this is actually a technical problem. Let’s hope that this proves to be true because it means that cryptocurrency holders are eventually going to get their money back.
Cardano (ADA), VeChain (VEN) and Tron (TRX) Lose Value
The entire cryptocurrency market has taken a blow but Cardano (ADA), VeChain (VEN) and Tron (TRX) are losing the most value. Cardano (ADA) dropped by 9.96% in the last 24 hours which puts it at $0.42383 per token.
On the other hand, we have VeChain (VEN) which didn’t take Russia’s bad news to well and lost 9.54% of its value. Therefore, the VEN token is now priced at $4.07. Lastly, we have Tron (TRX) which declined by 8.76% which puts it at $0.039065 per token.
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