Binance Coin Simply Explodes As More People Check Out Their Smart Chain
What happened with the price of Binance Coin in the last month, but especially the last 7 days is mind-boggling for many.
This is not the pump of a low cap alt recently (re)discovered.
It's a top 5 market cap coin which just claimed the 3rd place after this surge in price.
As @scaredycatguide wrote in his latest post, this kind of movement is often seen in the top of the FOMO hype, right before the market turns. But it's happening on BNB, not on BTC.
At the same time, we have to be aware this huge soar of BNB's price happens as BSC becomes more popular.
Let's not forget Thorchain has an option to use BSC, as far as I read. That's a popular blockchain even among people who value decentralization.
Leofinance will be on BSC as well, said Khal in a comment.
While hardcore decentralization people don't like BSC because it's centralized and it's a clone of an old Ethereum tech, it seems gas fees are that much of a downer on Ethereum that BNB gets pumped now because they knew how to profit of the situation.
And while the pump is kinda blown out of proportions for a top market cap coin at this stage of the bull market, I believe the fact that ETH is red while BTC is green shows some of the funds come from that ecosystem. Just speculating, of course.
One more reason to wait for LeoFi with great hopes. Even for the Diesel Pools on Hive-Engine. Hive's second-layer seems to begin to offer great alternatives, while Ethereum's outrageous fees will keep most people away from that ecosystem. But we need to move faster. BSC certainly has the funds and the man-power to push development on something. What they certainly don't have is decentralization and zero fees.
Personally, I couldn't resist and sold my BNB at these prices for a very nice profit. It may go higher, but from this point forward given the sharp movement is a short term high risk.
Wow, great move I've made, as I wrote this post the price retraced significantly on BNB:
Posted Using LeoFinance Beta
I bought on the contrary) - let's see who was right - it's a lottery !!!
Posted Using LeoFinance Beta
I'm ok with it either way. Made a nice profit, if it goes to a lower level, I'll re-enter, otherwise not for the short term.
Posted Using LeoFinance Beta
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