High Volume on Binance probably caused by people who wanted to achieve VIP-status on Binance

Binance CEO's twitter confirmed it's wash trading and people generating fake volume by sell-and-buy:

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https://preview.redd.it/3u3f128fjea91.png?width=599&format=png&auto=webp&s=9ecc6b7c1357eae5fa1dbea0c50a6983cf23cad2

https://twitter.com/cz_binance/status/1545451961222324225

Who would've thought zero fees could be used for shady things? It's also funny to see what r/cc users thought the reason for high volume is…

• more people selling and buying
• sell preasure is gone and we start accumulation phase
• (…)

A change in Volume at this scale MUST have been caused by either an error or shady stuff. Do not try to interpret too much in these signals, especially when they come from a single exchange.

Have a nice weekend!