Binance Coin/BNB will Fall from the Top Rankings
Binance Coin/BNB does not deserve the #4 crypto ranking by market cap and could fall in the rankings and never recover at any time. It's moving up as competition to Ethereum as Ethereum has temporary scaling and high fee issues. However BNB is CENTRALIZED and no serious crypto is centralized. The fundamental advantage crypto offers is decentralization. Without decentralization you don't have a crypto, you have a managed product no different than legacy financial products. Also it can be targeted and shut down while decentralized crypto cannot. It's possible some crypto might one day challenge Ethereum, but it won't be a centralized coin like BNB.
In previous bull cycles there have been other centralized coins that made a big splash for a while, for example EOS and TRON, but eventually people figure out they don't really offer what decentralized cryptos offer and their price ranking falls and doesn't recover. This cycle it seems Binance coin is the coin for the clowns to crowd into. It's quite possible they will be the crying-on-the-inside kind of clowns later as BNB falls in the rankings.
IMO as Ethereum advances its scaling solutions the likelihood of Binance coin falling increases. Optimistic rollups for Ethereum are one L2 scaling solution that I understand will launch this month, so BNB might top out soon.
To be clear I wouldn't short BNB as waves of ignorant noobs could drive it higher, but I sure wouldn't hold it long either.
I'm not an investment advisor and this is not investment advice. However I am a computer scientist and as a computer scientist I can tell you a centralized crypto FAILS to have the key aspect of what makes crypto significant.
In previous bull cycles there have been other centralized coins that made a big splash for a while, for example EOS and TRON, but eventually people figure out they don't really offer what decentralized cryptos offer and their price ranking falls and doesn't recover. This cycle it seems Binance coin is the coin for the clowns to crowd into. It's quite possible they will be the crying-on-the-inside kind of clowns later as BNB falls in the rankings.
IMO as Ethereum advances its scaling solutions the likelihood of Binance coin falling increases. Optimistic rollups for Ethereum are one L2 scaling solution that I understand will launch this month, so BNB might top out soon.
To be clear I wouldn't short BNB as waves of ignorant noobs could drive it higher, but I sure wouldn't hold it long either.
I'm not an investment advisor and this is not investment advice. However I am a computer scientist and as a computer scientist I can tell you a centralized crypto FAILS to have the key aspect of what makes crypto significant.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.