BNB sees fewer losses than Bitcoin and Ether with whale transactions…


The most recent market shakedown that saw Bitcoin falling below $40k may have scared off plenty of new crypto traders who easily panicked. As Bitcoin and Ethereum fell by around 14%, one asset that proved its mettle was BNB [BNB], which only saw a loss of around 9%, according to data from Arcane Research.

However, let’s stress test this “what doesn’t kill you makes you stronger” narrative, to see if it still holds.

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BNB will BRB?

At press time, BNB was the fourth biggest crypto by market cap, trading at $418.66 after rising by 2.63% in the last 24 hours. However, it fell by 5.23% in the past week. Even so, the 30-day MVRV ratio for the asset recently moved above zero, showing that most traders were seeing profits despite the market bloodshed.

Source: Santiment

However, that doesn’t necessarily mean everyone is buying. In fact, whale transactions worth more than $1 million have been steadily declining since the fall of 2021, along with BNB’s long-term price trajectory.

Source: Santiment

Adding to that, it would be premature to assume that BNB is a playpen for bulls. After all, TradingView’s Awesome Oscillator [AO] indicator revealed that – in spite of BNB’s recovering price – the red bars were flashing a sell signal.

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What’s more, they were growing shorter and shorter and moving closer to the negative range. This hints at a potential sell-off in the future.

Source: Trading View

Public praise and public shame

So BNB beat out Bitcoin and Ether when it came to holding on to its value in the face of a bear attack. However, which other alts stood their ground?

According to Arcane Research, these were Monero [XMR], Near Protocol [NEAR], and LEO Token. In particular, XMR was still in the green last week while Bitcoin itself was struggling to stay above $40k.

On the other hand, the top losses were felt by investors holding Terra [LUNA], Axie Infinity [AXS], and Fantom [FTM].


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