Binance Chain Could Send Ethereum Price Back to Double-Digits: Analyst

[ioanbtc]

Crypto exchange Binance has launched its custom blockchain solution Binance Chain on April 18. But the move might threaten to burn a hole in Ethereum’s pocket.

https://www.newsbtc.com/2019/04/20/binance-chain-could-send-ethereum-price-back-to-double-digits-analyst/amp/

What do you think? Will this happen or both coins will have the price over 100$?

[Febo]

Crypto exchange Binance has launched its custom blockchain solution Binance Chain on April 18. But the move might threaten to burn a hole in Ethereum’s pocket.

https://www.newsbtc.com/2019/04/20/binance-chain-could-send-ethereum-price-back-to-double-digits-analyst/amp/

What do you think? Will this happen or both coins will have the price over 100$?

Probably the second. But yes. Ethereum will lose its only usecase. Everyone will want to get crowdfunded on Binance simply to have more chances to enter Binance exchange.

[figmentofmyass]

binance chain is incredibly centralized. it's basically a private network where its own validators are the only validators. BNB is basically the equivalent of XRP where binance chain has added atomic swap capability. only the greediest and/or dumbest projects would prefer binance chain. (although to be fair that describes most of the altcoin scene)

ethereum is an actual cryptocurrency with decentralized consensus. people are overestimating the importance of ICO fundraising; that market is already pretty dead anyway. but surely some projects will prefer to remain on an actual decentralized blockchain. i also think there will be new supply/demand dynamics as ethereum moves closer to POS. that will create new demand and lessen available supply just as we've seen with other hybrid POS coins.

[cryptofirm]

Crypto exchange Binance has launched its custom blockchain solution Binance Chain on April 18. But the move might threaten to burn a hole in Ethereum’s pocket.

https://www.newsbtc.com/2019/04/20/binance-chain-could-send-ethereum-price-back-to-double-digits-analyst/amp/

What do you think? Will this happen or both coins will have the price over 100$?

i see a lot of people talking about binance right now,
this is really nice hype on binance chain, but i'm sure if ethereum will always better than binance chain
wich mean i believe ethereum will never back to double digit because of binance chain
maybe this quote below is a reasonable reason to choose ethereum rather than binance if both are an options

binance chain is incredibly centralized. it's basically a private network where its own validators are the only validators. BNB is basically the equivalent of XRP where binance chain has added atomic swap capability. only the greediest and/or dumbest projects would prefer binance chain. (although to be fair that describes most of the altcoin scene)

ethereum is an actual cryptocurrency with decentralized consensus. people are overestimating the importance of ICO fundraising; that market is already pretty dead anyway. but surely some projects will prefer to remain on an actual decentralized blockchain. i also think there will be new supply/demand dynamics as ethereum moves closer to POS. that will create new demand and lessen available supply just as we've seen with other hybrid POS coins.

[zbig001]

It was thanks to decentralization that Ethereum avoided being classified as an unregistered security.
The decentralization of Binance chain is questionable, and in addition, Binance decided to take responsibility for issuing tokens of other projects.
Increasing the chance of a lawsuit for itself, for publishing unregistered securities.

[Viper_Unleashed]

Well introducing IEO every month and making people facing difficulties in buying tokens and totally manipulating the price is being going on for some time.Consider the case of BTT,Cellar,Fet and now Matic.Moreover people can buy only using BNB was a great move.But what people need to understand is that the whole idea of financial freedom is again at stake.Why people don't like Ripple the same reason it will provide monopoly because it cannot be mined and solely owned by one entity.We need to see the bigger picture.

[slaman29]

Hard to say, I am one of those who believe 2019 is NOT the year of recovery but of ups and downs and possibly another wild bottom for Bitcoin, and maybe even for alts like Ethereum. Double Digits is perfectly normal even if it were to happen though, and it will trigger even more people to buy at the bottom because more people will believe THAT is the bottom than the previous one was.

[xenomorphe1]

No, it won't happen. BNB is living just because of hype. Never invest in a hype coin for a long term investment. You can trade it for a very short term, because the pumpers (Binance?) are keeping it alive artificially. But when they are going to be exhausted, a big dump is surely going to happen.

[kurcalas]

Crypto exchange Binance has launched its custom blockchain solution Binance Chain on April 18. But the move might threaten to burn a hole in Ethereum’s pocket.

https://www.newsbtc.com/2019/04/20/binance-chain-could-send-ethereum-price-back-to-double-digits-analyst/amp/

What do you think? Will this happen or both coins will have the price over 100$?

Aside from the success of the binance chain, due to the success of the Binance platform, the price can exceed $ 100. But an error like Bittrex, Poloniex and Kraken can drop Binance and therefore the BNB.

[sockpuppet1911]

In my opinion that means that the most likely to be scam projects will adopt Binance chain in a heartbeat in order to get in ( I am not saying that there wouldn't be real projects as well, but the ones that are in it for a quick buck are going for the Binance chain).
ETH is going to be more versatile and doing different things, it suits for some utility tokens better that are actually building something, and not just offering security tokens etc.

[leea-1334]

Well introducing IEO every month and making people facing difficulties in buying tokens and totally manipulating the price is being going on for some time.Consider the case of BTT,Cellar,Fet and now Matic.Moreover people can buy only using BNB was a great move.But what people need to understand is that the whole idea of financial freedom is again at stake.Why people don't like Ripple the same reason it will provide monopoly because it cannot be mined and solely owned by one entity.We need to see the bigger picture.

Exactly. They forgot what ICOs did to the market in 2017/18? Build up the hype, inflate the market, make everyone crazy,,, and then scam and zero value and bear market. They probably know this however so they are just doing it anyway to get a quick buck out of it. People forgot about the true ideals now, financial freedom,,, independence,,, now it is still all about x100 and megariches!

[sandra_x]

The Binance chain is a formidable competitor for ethereum given the reputation and success of the binance exchange. But Ethereum is a step ahead as it has already won the support of tech giants such Samsung, Google and many others.Ethereum will always have the advantage of being the first. I also see the likelihood of other big exchanges copying binance and launching their own chain also, that may water-down the binance chain.

[CLywaTeLb]

binance chain is incredibly centralized. it's basically a private network where its own validators are the only validators. BNB is basically the equivalent of XRP where binance chain has added atomic swap capability. only the greediest and/or dumbest projects would prefer binance chain. (although to be fair that describes most of the altcoin scene)

ethereum is an actual cryptocurrency with decentralized consensus. people are overestimating the importance of ICO fundraising; that market is already pretty dead anyway. but surely some projects will prefer to remain on an actual decentralized blockchain. i also think there will be new supply/demand dynamics as ethereum moves closer to POS. that will create new demand and lessen available supply just as we've seen with other hybrid POS coins.

I do not think that many are concerned about the centralization of cryptocurrency. If there is an opportunity to earn somewhere, people will take advantage of this, even if it leads to centralization.
To meet the demand for ethereum, additional use of the coin is necessary. As rightly noted, the ICO market is almost dead. The developers have announced big plans and current developments. Etherium will not give up easily.
So that uncertainty.

[BitcoinHodler]

it doesn't matter in my opinion. ethereum is still the same centralized token with a huge supply with no cap that is doomed to go down in the long run but it won't happen because of some other altcoin coming along, specially another fully centralized one issued by an exchange!
besides ETH has been losing the market for a while now, and ever since ICOs started dying ETH has been having a very hard time keeping the price up as it is. so its upcoming dumps is guaranteed and won't be because of Binance's shitcoin!

[Darkoth89]

Not liking this at all. This way it could also mean that Binance can use the listing on their exchange as a leverage for new projects to swap to the Binance chain. Something like 'swap to our blockchain and get a discouted listing on the biggest crypto exchange'.

[VanDeinsberg12]

It was thanks to decentralization that Ethereum avoided being classified as an unregistered security.
The decentralization of Binance chain is questionable, and in addition, Binance decided to take responsibility for issuing tokens of other projects.
Increasing the chance of a lawsuit for itself, for publishing unregistered securities.

Just the matter of time until binance will have gotten a big problem with all of securities that launched in binance launch pad. Binance chain looks a centralized blockchain and anything undercontrol by the binance exchange itself.

[jacafbiz]

I know alot has been said about Binance chain but it is too centralized, most of the things Binance getting away with will be exposed when people start exploiting their chain, it is very easy to be a token but difficult to be a platform and succeed, I will watch the growth of the chain for the next one year and see how it grows

[Ucy]

Not as simple as that. 

Real blockchain projects aren't going to be moving to binance own crowdfunding platform long-term. There are couple of things I don't want to mention here that will prevent mass adoption of BNB.
By the way, ethereum already does what binance is trying to do with crowdfunding-exchange listing

[Febo]

Not as simple as that. 

Real blockchain projects aren't going to be moving to binance own crowdfunding platform long-term. There are couple of things I don't want to mention here that will prevent mass adoption of BNB.
By the way, ethereum already does what binance is trying to do with crowdfunding-exchange listing

Yes real. But most are not real. They used ETH asset platform just to launch token to crowdfund their project that mainly have nothing to do with block chain. For them is totally same where they launch or exist right now.

[rocketcoin88]

In the history of cryptocurrency, we have a lot of first exchanges.
mt.gox
tradehill
bitcoin market
bitfloo
coinex

very long list
 They finally disappeared. Only the bitcoin Survive.
so i think binance chain is shit,Great risk