The price of ANC skyrocketed 80%. Is Binance manipulating the market?

ANC spiked 80% in just 3 hours. Is Binance locking the sale so users can’t sell it?

ANC soars 80%

Within 3 hours, this coin’s price skyrocketed 80% right before the launch of Terra 2.0.

This is a savings protocol that offers low volatility interest on stablecoin Terra (UST) deposits. The protocol’s interest rates are backed by a diverse range of staking rewards from proof of stake blockchains and can therefore be expected to be much more stable than money market rates.

This protocol creates a marketplace between their stablecoin lenders and stablecoin borrowers, based on collateral. To borrow stablecoins, borrowers lock Bonded Assets (bAssets) as collateral and borrow stablecoins under the LTV rate determined by the protocol. Currently only supported with LUNA

It is known that after the price of token increased sharply, users did not receive any token in their wallets. Therefore, there is a theory that Binance is manipulating the market to make it impossible for them to sell.

However, it does not appear to be the case on Binance’s system, which has issued warnings about increasing price fluctuations, and there are risks when trading to protect users.

The launch of Terra 2.0 may also be one of the reasons for this push. We will continue to update the latest information on Coincu News.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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