Binance News: NEO Foundation Denies Token Sales Amid Large Binance Transfers and Price Drop

In a recent development, the NEO Foundation has clarified its position regarding token sales amidst significant price fluctuations and large transfers to Binance. Here’s a detailed summary of the situation.

Neo Foundation Denies Token Sales, Probes Binance Transfers After 35% Drop

The NEO Foundation clarified that neither it nor its development arm, Neo Global Development (NGD), had sold any NEO tokens following a 35.85% drop in price. Large transfers into centralized exchanges like Binance might be a calculated risk management step by whale investors, indicating a strategy to consolidate holdings during volatile times. This concentration of tokens may alter future network governance and influence. Improved tracking and clearer communication of such movements could help restore investor trust.

Binance Dominates Spot Trading Volume in 2025

Analysis of cumulative trading volumes indicates that Binance maintains its position as the leading cryptocurrency exchange for spot trading in 2025. According to CryptoQuant data spanning from January 1, 2025, Binance dominates spot trading activities with a 43.66% share of the total spot market volume, which amounts to 1.9T. This positions Binance as essential within the global crypto market, outpacing all other exchanges in spot trading activity.