BNB is moving after price adjustments after breaking the $300 mark. Market participants expect that as the market recovers, the performance of Coin will be better
BNB is moving after price adjustments after breaking the $300 mark. Market participants expect that as the market recovers, the performance of Coin will be better. Based on its performance, it may occupy Ethereum's second spot market value position in the future.
BNB and ETH Price Performance
The winter of encryption is causing huge losses to the encryption industry, with some coins being hit harder than others. In this winter market, a rapid performance comparison between Coincoin and Ethereum indicates that the former is more resilient.
This chart shows the YTD performance of Coincoin and Ethereum. Despite high volatility, the price growth of Coincoin is relatively positive.
The opening price of Ethereum this year at $3683 has dropped by about 65%, while the Coin has dropped by 40% from $512.
To allow Coincoin to pass through Ethereum, it must have a market value of $145 million in Ethereum. To achieve this valuation, the price of Coincoin must reach approximately $900 (a 300% increase in price).
Analysts believe that the crypto market will experience high price growth in the next bull market. At that time, Coincoin may have set a new historical high and surpassed Ethereum, ranking second after Bitcoin. News, internet adoption, and market crashes will affect price dynamics.
Ethereum blockchain and Coin Security smart chain
The underlying protocols of BNB and ETH also play a crucial role in their future performance.
There has been a battle within the encryption industry, with decentralized blockchain protocols vying for dominance. The indicators that determine which chain is successful include the number of transactions per second, the average cost per transaction (gas fee), the expansion solution, and the adoption rate of developers and users.
There are over 25 major blockchain platforms in the market, and competition is becoming increasingly fierce.
As competitors put increasing pressure on Ethereum, the platform is gradually shifting users to better performing protocols such as Solana, Cardano, Tezos, Algorand, and Polkadot.
After the merger, Ethereum lost a large part of the mining community. Since then, the community has transitioned to other mines, such as Ethereum Classic (ETC), Litecoin (LTC) and Doggie Coin (DOGE). Supporters of the merger praised this move, citing a more environmentally friendly environment and leaving energy intensive mining to Bitcoin and other POW assets.
Prior to the launch of its native blockchain, Ethereum dominated the smart contract market. Now, Coin Security Smart Chain (BSC) is becoming the main competitor of Ethereum.
At first glance, BSC and Ethereum blockchains look very similar, with smart contracts built on BSC compatible with Ethereum Virtual Machines (EVMs), allowing developers to easily switch between the two blockchains. Despite compatibility and similarities, there are significant differences between the two.
The average block time of BSC is 3 seconds, while the block time of Ethereum is between 30 seconds and 16 minutes. Both use the gasoline fee model for each transaction, and the Coin On smart chain is a cheaper model.
In terms of DeFi usage, Ethereum dominates the market. According to DefiLlama's data, the total lock in value (TVL) of Ethereum is $23.51, which is impressive compared to the $5.39B of Coin Security Smart Chain.
epilogue
Coin An coin shows great hope, and in the long run, it can be said to win this hegemonic battle. Zhao Changpeng, CEO of Coin Security, has always been at the forefront of advocating transparency in the encryption industry. Coin On is by far the largest trading volume exchange and has created tremendous utility for Coin On Coin.
Will BNB exceed ETH? BNB is a great case, but no one can say for sure. The correct answer to this question may be subjective, depending on the user's pursuit of blockchain attributes, utility, and performance.
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