So, it turns out that my dbuzz of 4 days ago warning about the complete bonkers valuation of Binance at 300 was right. BNB trading at 223 right now. Still thinking its a sub 100 token, but in bull market will be hard to see it there.
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Hmmm... The whole market is in red today so it's hard to gauge if BNB decreased by its own market faults or because it followed the trend of other tokens. Right?
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Correlation in crypto is super high, yes, but I guess we will see in a few weeks. The BSC DeFi phenomena is perishable, and at the end Binance is just another exchange. Lots of similar options around.
I reiterate, I like it (I bought BNB under 8) but current values are bananas.
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