Based on the mosaic theory, which is assembling recent pieces of information, it doesn't look good for Binance. First we had the US investigation in May. Second, we had the G7 meeting. Third this week end we are starting to see coordinated statements from countries such as Canada, Japan and the UK so far that Binance is running their business illegally. I would expect more FUD about this in the upcoming days. This could trigger a bank run on Binance, where people rush to get crypto out of the popular unregulated exchange. This could explain why Binance could fill the huge gap and sink alot more than other cryptos. I think people are downplaying that risk but it's still there nonetheless.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.