Journalist
Posted:
- The proposal was intended to give BNB Chain the discretionary power to seize the collateral of the operator of BNB Bridge.
- BNB Chain’s network activity remained high, but the coin fell 2% in the past 24 hours.
BNB chain [BNB] recently submitted a proposal aimed at somewhat reducing the currency’s liquidation for an important purpose. If the proposal is adopted, it could have a greater impact on the price of the coin.
Everything about BNB Keten’s new proposal
BNB Chain recently published a proposal on the Venus forum. According to the official postThe proposal aims to give BNB Chain the discretionary power to seize the BNB Bridge operator’s collateral and repay its debts, while avoiding any market liquidation of BNB.
It presented a plan to safely reduce the exploiter’s debt and possibly address the Venus Protocol deficit. This will be achieved by using the exploiter’s funds.
The proposal also stated that the operator’s balance as of December 11 was 630,240.00. BNB as a supply, along with 58,440,000 Tether [USDT] and a 37,440,000 USD coin [USDC] as borrowing.
Since this proposal aims to reduce liquidation, it could have a somewhat positive impact on the price of BNB, as less liquidation can lead to less volatility overall.
The BNB map is red
As of this writing, BNB is down more than 2% in the last 24 hours. According to CoinMarketCapAt the time of writing, BNB was trading at $241.66 with a market cap of over $36.6 billion, making it the fourth largest cryptocurrency.
Source: CoinMarketCap
The good news was that as the price of the currency fell, the funding rate also fell. This meant that Futures investors were not buying BNB at the lower price at the time of the report. This indicated the potential for a soon trend reversal.
Source: Coinglass
How is BNB Coin doing on the networking front?
In addition to the above proposal, BNB Keten recently posted a tweet revealing its weekly report. Particularly men the past seven days, BNB‘s weekly transactions reached 36.89 million, with an average daily transaction of 6.14 million.
⚡ BNB CHAIN NEWS RETURNS ⚡
We’re back to catch up on everything that happened in our ecosystem over the past week. Read on for the latest updates on:
🔸New projects on BNB Chain
🔸BSC’s ATH in trades
🔸Technical and security updateshttps://t.co/PgxA9He94u— BNB Chain (@BNBCHAIN) December 16, 2023
Is your portfolio green? look at the BNB Profit Calculator
The blockchain’s weekly average number of users was 3.24 million, while the daily average number of users was 959,000. Apart from the statistics, the report also revealed details of some newly launched dApps on the blockchain.
These dApps include Hacash and Openfort, which operate in the infrastructure space, and Gabby World, a SocialFi dApp.