Home Market News Crypto Is This Cryptocurrency The Next Bitcoin?

Is This Cryptocurrency The Next Bitcoin?

94
0

Bitcoin has been rallying over the last couple of weeks. It did this after being trapped in a year-long bear market. It is now far below the all-time high it once reached, which stood at well over 20,000 per coin. Traders and even investors then tried to wait for a major financial institution and even retailers to try and wade into the currency. It’s important to know that the Bitcoin currency has increased recently. In fact, it has climbed above the $5,000 per coin mark. This means that it has clambered back over 45% when you look at the start of the year. Of course, it’s important to know that there are some smaller currencies that are rallying back even more than this, and even though they are smaller, that doesn’t mean that they shouldn’t be looked at all. When you look at Binance, which is the Malta-based Bitcoin you will soon see that this had an all-time high in the year 2017. Now, the Bitcoin and even currency agency Weiss has suggested that the coin could actually become the next Bitcoin, and this is all because it appears to be dictating the direction of the market. This is especially the case when you look at how the market has been over the last couple of weeks.

When you look at some of the smaller currencies, such as Bitcoin, you will see that they have soured over the last few months and some of them have even increased in value by over 300%. Bitcoin once decided the direction of the market and this is especially the case when you look at the price moves and the fact that they are pulling smaller currencies along. Sure, the market has matured but for smaller currencies, it’s safe to say that they have found their own direction. Binance coin, and even ETH tokens have been used so far to pay off any fees on Binance and it appears to be the world’s biggest exchange by volume. Binance is now among the top 10 cryptocurrencies on the market and this is according to CoinMarketCap. The recent launch triggered another huge rally and this took it way above its all time high at $24 per coin.

It’s important to take note here, that last month Weiss Ratings chose to give Binance a review of B-. This puts it in the same class as EOS, Ripple’s own XRP and even Bitcoin too. This also helps it to rival ETH as well. The Weiss report also happened to give Cardano, Tron and even Neo a C+. The report was entitled Dark Shadows and it also assigned grades to currencies which have the best chance of being adopted. They chose to put EOS right at the top and this ultimately means that right now, it is being placed above ETH. It is also another sign that it is being put in the same class as Ripple and Bitcoin.

The Binance coin is the 7th biggest currency around when you look at market capitalisation. This happens to be a far cry from Bitcoin. The Binance coin has been boosted recently and this is especially the case when you look at the launch of the DEX. The DEX is expected to be one of the biggest and the most well-used exchanges. It is surprisingly enough, being built on the blockchain from Binance too. The best thing about this is that it is going to give people the chance to take control over their own keys and it also helps them to defend against hackers too. In other words, hackers are not able to break into accounts if the exchange itself is not compromised at all.

Of course, it’s important to know that Binance has created its own fair share of controversy over the past couple of years. It has de-listed the Bitcoin SV and this is actually a fork of Bitcoin. It split last November and Binance say that this is because it does not meet the high standard that they expect. The decision has actually been accepted by the exchange and a lot of people are working hard to try and re-list it from the exchange altogether. The decision is going to be adopted by a lot of other crypto exchanges and the chief Changpeng Zhao, or CZ has warned that his exchange could be the biggest proponent. Craig Wright has continued to say that he created the coin and that everyone is disagreeing with him. The decision is going to be reported to the Maltese government and they are also going to be regulating the case too. A lot of people believe that they are abusing trust and that they are also playing god too. They believe that they are in control of which token gets the most volume and that they are essentially manipulating the market. The decision to take Bitcoin off the market is because they don’t like it and that nothing else comes into it. They have also stated that Craig Wright does not own Bitcoin at all and that this is also helping to manipulate the market. The decision to de-list it seems to be based on the fact that they also don’t like someone working on the exchange. They don’t want to be unprofessional here, and that is why they are doing everything they can to make a difference here.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here