The crypto market seems to be plateauing again, after the recent pump that was led by Litecoin (LTC) and Binance coin (BNB). If it holds and continues upwards, backed by a Bitcoin (BTC) push above $4000, then there would be a good chance that the market would be entering a recovery phase. However, as at this point, it is sitting pretty in uncertain territory. That’s because, even for cryptos like Litecoin (LTC), anyone who missed out the pump and decides to get in now, may lose big if the whole market drops, and this crypto’s price corrects significantly. But, cryptos that didn’t benefit from this latest pump may hold a risk of further downside pressure too. In such an uncertain market, what makes for a better hold between a crypto that has already pumped such as Binance coin (BNB), and a fundamentally sound crypto that is yet to make any moves, such as Zilliqa (ZIL)?
Well, in such an uncertain market, where fundamentals don’t tend to have much of an impact on prices, holding both would be the best bet. That’s because you increase the chances of benefit if both make a huge push upwards. However, to maximize on gains by just holding one, then Binance coin (BNB) would be the best bet this year. It may have pumped hard, but from a look at the underlying factors behind the pump, there is a high probability that it could be headed up much further this year.
For starters, Binance, the crypto exchange behind Binance coin has created a scenario that favors this coin, and gives it the potential for even more gains this year. Firstly, Binance recently launched an ICO platform called the Binance Launch Pad, and its use seems to be gaining momentum. So far, a few projects have launched on it, and they were all sold out in a very short time. But how is this related to Binance coin (BNB)? Well, for investors to participate in these ICOs, they have to do so in Binance coin. This essentially means that as long as projects are launching on this platform, Binance coin will have enough demand supporting its price.
Secondly, Binance still charges fees for listing new projects, which is okay, since it is a business, and has to give a return to shareholders. For Binance coin (BNB) investors, this is positive. That’s because, when projects pay their listing fee in Binance coin (BNB), they get a discount for it. This is an incentive that will create a continuous demand for Binance coin (BNB) all through the year.
Clearly, Binance coin (BNB) has much bigger prospects than Zilliqa (ZIL) this year. It has a real basis for growth, while Zilliqa is still largely speculative, like much of the market at this point. However, that’s not to say that one should dismiss Zilliqa (ZIL). The project has made lots of progress even as prices remain relatively depressed. This gives it the potential to pump exponentially once the market recovery gains traction.