Holy crap. What disaster. I thought BNB would resist this crypto plunge a lot better. But alas, that sentiment isn't held by those who seek to keep selling it and drop it lower and lower.
BNB is used by a heavily trafficked network on BSC. It's used daily for txns with DeFi. Yet... that doesn't phase the selling. Just sell more they say.
I guess the good news is that it's not the only one? It's not the only one that has dropped below the huge dip on May 19th.
ETH hasn't gone below yet, but it's on its way. LTC was climbing fast before, but it too has dropped below the plunge of May 19, and so too has the new hotness RUNE from Thorchain, the sexy chain that connects all chains in a new DeFi system.
What is going well? Or rather, what isn't doing as poorly? BTC.
It's still above the May 19 huge dip. But it too is probably on it's way down. At least the king is still the king and holds a lot of sway. Maybe it's only above in relative terms of the drop being the hugest drop on May 19. So comparatively, the retraction down was the largest while others were smaller drops, it's may still be dropping at the same rate as everything else? I'm not sure.
What does look like it's doing well, and unphased by all of this? HIVE!
Look at that!
Amazing. It's been pretty much going sideways for the past few days while everything else just kept slowly slumping downward.
I suspect the downward progression will continue and eventually pass the May 19 low, but for now, HIVE is impressing.
BNB has DeFi going for it, and HIVE doesn't. Yet one is doing a lot better than the other in terms of selling pressure. Odd.
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Lol this dump is a no respecter of projects, every single thing has taken a huge hit, even the best projects in the space. Only stables are holding firm now....and not even all stables, last I saw hbd had fallen below the peg,.. it is a massacre
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Yes indeed, the quality of the project is irrelevant. HBD... hahaha, that's not a true stable coin though. It's a reject. There is some effort to keep it at $1 usd... but it doesnt work too well.
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