Binance News: Exchange Severs Ties with Market Maker for MOVE Token Manipulation, Solana Futures Show Bullish Trend

In the latest developments in the cryptocurrency world, Binance has taken stringent action against a market maker for manipulating MOVE token sales, while Solana futures exhibit a surge in bullish sentiment.

Binance Cuts Ties with Market Maker Over MOVE Token Sales

Binance has offboarded an unidentified market Maker that violated platform rules by dumping millions of MOVE tokens shortly after their listing, earning approximately $38 million in profits. The market maker had little buy-side support, so its profits were at the expense of users. Notably, this entity is linked to another market maker previously banned by Binance for misconduct.

Solana [SOL] Futures See Surge in Bullish Sentiment

A surge in bullish sentiment is emerging among traders of Solana [SOL] futures. According to data shared by Ali Charts, 78.82% of open Solana positions on Binance Futures are long as of the 22nd of March, translating to a long/short ratio of 3.72. This suggests traders are more than three times as likely to bet on upside than downside. However, other Long/Short Ratio datasets from Binance show a more conservative trend across top traders, with Bitcoin futures showing a decreasing Long/Short Ratio from 2.05 on the 21st of March to 1.71 on the 24th of March.