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Binance (BNB) Monetary Policy Slammed By Trader Tone Vays

News
Wed, 06/17/2020 - 14:42
Vladislav Sopov
Prominent crypto trader and analyst Tone Vays frequently bashes altcoins, their issuance and investment prospectives. Today BNB is in his scope
Binance (BNB) Monetary Policy Slammed By Trader Tone Vays
Cover image via twitter.com
Contents

Today, Binance (BNB), a world-leading cryptocurrency exchange ecosystem noticed in a celebratory tweet that the initial version of the Binance white-paper was released three years ago. Also, the exchange team revealed some statistics to illustrate what the Binance team has achieved so far.

How to add value to BNB

Binance pointed out that the price of BNB is currently at around $16.34 and the current market capitalization of this token exceeds $2.54B. Nowadays, 20.1M BNB have been burned, which is equal to $543M.

Also, Binance pointed out the enormous ROI of the BNB token that surpassed 16,240%.

Vocal Bitcoin (BTC) evangelist Tone Vays decided to congratulate the exchange in a very special way. He outlined that the true sense of token burning is expanding the profits of the Binance team itself.

Tone Vays dismisses Binance Coin (BNB) transactional mining
Image via Twitter

According to him, the concept of transactional mining, i.e. of periodically destroying a significant part of the token's circulating supply, adds value to the 'insane' BNB riches that are still controlled by CZ and his team.

Initially, BNB was printed out of thin air, and, therefore, has no real-world utility, Mr. Vays concluded.

Not a utility token

Some commenters on Mr. Vays' Twitter post argued and reminded each other that BNB is used for significant trading fee discounts for Binance traders. Thus, it is a textbook example of a utility token. Demand for it is boosted by increasing interest in its service.

The analyst responded that it is nothing but a facade of an unregistered security offering of highly speculative assets. 

If it wasn't, he outlines, this model would have been adopted by top real-world corporations:

If this use case made sense you would get a discount from  @amazon by paying in $AMZN stock or  @Google would pay me more $ in $GOOG stock for my @YouTube channel.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)