The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
All Alt Coin

Should you bet on Binance Coin regaining its market position from Cardano

by Miki 08/21/2021
by Miki 08/21/2021 0 comment

Binance Coin, the token native to the Binance network, lost its long-standing position as one of the top-3 cryptocurrencies in the market. As Cardano hit a new all-time high, it pushed BNB to the fourth position on CMC. 

Now, it truly feels like the Cardano is the third-generation cryptocurrency. Except BNB seems to be trying to gain back its spot. Will it ever be able to though?

Binance Coin on the rise?

A lot of BNB supporters are about to get upset, but the answer is probably no. Yes, BNB is up by almost 13.97% in the last 72 hours. However, even that hike could barely contribute to the overall 70.6% increase over the month.

Cardano, on the other hand, was up by 27% in just 3 days while over the month, it appreciated by 131%. 

Binance coin’s rally | Source: TradingView – AMBCrypto

The reasons behind Cardano winning are multiple. First of all, low prices and higher liquidity make ADA the center of attention. ADA’s recent rally attracted investors, with the latter finding an altcoin with a lower price at an easier point of entry.

What’s more, with Cardano having a higher supply than BNB, liquidity becomes easier too. This is also why BNB has fewer active addresses in comparison.

Binance Coin active addresses | Source: Santiment – AMBCrypto

Secondly, in terms of profit/loss, BNB hasn’t seen any major changes either. Over almost a month, except for a few minor spikes, profits haven’t been driving the indicator.

Additionally, development activity also seemed to suggest that Cardano was seeing consistently high development. On the contrary, Binance Coin only spiked between 3 and 6 August, briefly, before coming back down.

Cardano and BNB developer activity | Source: Santiment – AMBCrypto

But, what about its market value?

Binance coin’s market value is the only factor supporting BNB with respect to metrics.

In fact, the MVRV ratio tells us that the fourth-largest cryptocurrency still has a fair value as an asset. However, that won’t be able to push BNB’s rank as Alonzo is on the way for Cardano.

Binance Coin MVRV ratio | Source: Santiment – AMBCrypto

While Binance Smart Chain (BSC) has already introduced smart contracts on its network, it might never manage to attract too many developers. For starters, Ethereum remains the undisputed leader in the space. Plus, many have argued that BSC is too centralized and is relevant only because it is competing against Ethereum. 

Now, within a month, smart contracts will be active on Cardano. Ergo, there will be more reasons for developers and investors to head to the network.

Can BNB regain its third rank again? Well, it’s a toughie, but the crypto-market has seen unexpected turns in the past. After all, this is an industry where DOGE is a top-10 alt. So, who knows?

Source link

Views: 0
betBinanceCardanoCoinMarketPositionregaining
Share
0
FacebookTwitterPinterestEmail
previous post
Mark Cuban Says He Enjoys BOTH Dogecoin and BTC
next post
Assessing the odds of Uniswap recovering from Solana’s ‘flippening’

Related Posts

Are Solana’s bulls really strong enough to halt...

12/29/2021

IXFI Announces Launch of New-Age Exchange Platform

12/29/2021

Litecoin repeating history will have this effect on...

12/28/2021

More than just a game – what GameFi...

12/28/2021

Even as network hits one million users, FTT...

12/28/2021

Fintech Expert Makes Six Bold Predictions for Crypto...

12/28/2021

A recovery rally in play for Sushiswap, as...

12/28/2021

SEC Accused of Deliberately Trying to ‘Kill’ XRP...

12/28/2021

Recent gains may finally boost Aave’s dominance in...

12/28/2021

Santa Floki Price Rallies 5,000% after Elon Musk’s...

12/28/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • FTSE Plans to Develop Crypto Index Comprising Over 40 Digital Assets

  • Ethereum Begins Contemporary Surge, Right here’s How ETH Might Rally to New ATH

  • New York Knicks Launch Team’s First NFT Collection – Blockchain Bitcoin News

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$30,114.000.05%
  • ethereumEthereum(ETH)$2,048.641.40%
  • tetherTether(USDT)$1.00-0.15%
  • binancecoinBNB(BNB)$332.754.41%
  • usd-coinUSD Coin(USDC)$1.00-0.45%
  • rippleXRP(XRP)$0.4227500.69%
  • cardanoCardano(ADA)$0.551.69%
  • Binance USDBinance USD(BUSD)$1.00-0.45%
  • SolanaSolana(SOL)$53.122.10%
  • polkadotPolkadot(DOT)$10.493.51%
  • dogecoinDogecoin(DOGE)$0.0873171.11%
  • AvalancheAvalanche(AVAX)$31.820.86%
  • Lido Staked EtherLido Staked Ether(STETH)$2,009.291.96%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$30,086.000.05%
  • tronTRON(TRX)$0.0795263.63%
  • Shiba InuShiba Inu(SHIB)$0.0000122.14%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • daiDai(DAI)$1.00-0.49%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • litecoinLitecoin(LTC)$72.661.52%
  • CronosCronos(CRO)$0.1975261.82%
  • LADZLADZ(LADZ)$0.0686894.36%
  • matic-networkPolygon(MATIC)$0.683.28%
  • leo-tokenLEO Token(LEO)$4.89-0.12%
  • NEAR ProtocolNEAR Protocol(NEAR)$6.291.30%
  • FTX TokenFTX Token(FTT)$30.60-0.11%
  • HederaHedera(HBAR)$0.389473-3.44%
  • bitcoin-cashBitcoin Cash(BCH)$200.781.33%
  • RareRare(RARE)$0.0461220.00%
  • moneroMonero(XMR)$195.397.20%