Do you think can affect the Binance coin

[interactivecrypto]

Just read it and i think can affect coinbase and Binance coin https://www.interactivecrypto.com/blockchain-com-launches-cryptocurrency-exchange-to-challenge-binance-and-coinbase  do you think time to short?

[mk4]

It depends. While Blockchain.com definitely has a big name and a good reputation, it still completely depends if it can outcompete Binance and Coinbase.

Taking a look at the article, it doesn't look like Binance is actually the competition, probably Coinbase, Kraken and Gemini because it looks like "The PIT" is going to be an exchange that would tightly follow regulations. Hence it wouldn't beat Binance in terms of the number of coins and tokens available.


EDIT: Wait what. It's already going online in 6 days: https://pit.blockchain.com/trade

[n**bhere]

the price of this coin is centralized, the price is not decentralized, the price is created by the exchange which make huge revenue and this give illusion that it have value but really its nothing.

the top guys in this game never ever invested in this coin.

the owner created another shit coin backed by bitcoin and after short time another shit stable coin.

[n**bhere]

It depends. While Blockchain.com definitely has a big name and a good reputation, it still completely depends if it can outcompete Binance and Coinbase.

Taking a look at the article, it doesn't look like Binance is actually the competition, probably Coinbase, Kraken and Gemini because it looks like "The PIT" is going to be an exchange that would tightly follow regulations. Hence it wouldn't beat Binance in terms of the number of coins and tokens available.


EDIT: Wait what. It's already going online in 6 days: https://pit.blockchain.com/trade

:>with your logic and analysis its better to find day job :>

Binance has been shilling its centralized BNB token.

Anyone taking Binance posts about BNB seriously as any sort of trading signal is dumb enough to trade literally any shitcoin they see, and probably deserves to.

[mk4]

:>with your logic and analysis its better to find day job :>

Binance has been shilling its centralized BNB token.

Anyone taking Binance posts about BNB seriously as any sort of trading signal is dumb enough to trade literally any shitcoin they see, and probably deserves to.

Hence why I addressed OP's question concerning the competition between these top exchanges because it's a decent topic to talk about, not the speculation around BNB. I didn't even slightly mention trading on my response. :>

[ElmedoRator]

The price of this currency of the Binance trading platform is based on the turnover of transactions on the platform. So such news has little effect on its value. The IEO program on Binance makes this money a big leap, think of the past few months BNB is worth only $ 10 and is now at $ 26.

[Dreamchaser21]

Maybe its time now for BNB to have some correction, we can't say that it has a direct affect on BNB coin but we can see that in the coming days. If you play short then its all up to you, just make sure you know how to do that. I'm still confident that BNB will still be the top exchange and its price will become more expensive.

[jossiel]

I've checked their exchange and I thought that this was the integrated exchange that already have with their wallet. But after looking to it, the volume's pretty low obviously because they are starting.

I don't see any reason why this exchange will affect other popular exchanges. It's normal for a growing company to compete with other companies through adding another service which they think they can fill the needs of their customers.

[marks1976]

Just read it and i think can affect coinbase and Binance coin https://www.interactivecrypto.com/blockchain-com-launches-cryptocurrency-exchange-to-challenge-binance-and-coinbase  do you think time to short?

Blockchain.com was seeing an opportunity and i think when it can provide a good exchange site and that will give a small impact to the binance, i don't think that will challange the binance exchange site directly. Blockchain needs more popularity to attract binance's users.

that will become a very strict competition in the major platform services and this has already predicted when big companies always try to create more and more domination over another platform.

[khiholangkang]

Just read it and i think can affect coinbase and Binance coin https://www.interactivecrypto.com/blockchain-com-launches-cryptocurrency-exchange-to-challenge-binance-and-coinbase  do you think time to short?

I don't think it will affect binance, blockchain exchanges are big but their pair is only for big coins, binance has everything that many people want but not with PIT from blockchain

[michellee]

Maybe it will affect to binance coin, but I don't think that will give a big effect because I think binance will anticipate that moves. I am sure that binance will think about how they can prevent so binance coin will still rise, and they will make another strategy. There is always a surprise in the cryptocurrency, and we will need to wait for a while about what will happen later.

[TastyChillySauce00]

No one could know. Blockchain.com has exists in crypto world since so long ago even before Binance becomes a thing. If they really trying to make an exchange to compete with Binance they'll surely have a loyal userbase for that. But, whether it could really give Binance a good competition or not no one really knows. Also to mention that some people usually will just stick to an exchange or two for convenience without really looking after other exchanges if there's no problem, that'd take sometimes I guess.

[ohyeahhaha122]

As I think there is, but can change a lot, the reduction of the price line has been pushed back by binance to show the top 1 trading platform.

[Herbert2020]

if they start doing what ETH and BNB did and start running shitty ICOs called IEO and force the users to buy their token to participate in them, then they can easily compete with these tokens as long as they can scam people into investing in those IEOs just like what Binance has been doing and before that ethereum has been doing the same.

otherwise i don't think they can just enter the exchange scene and become big overnight. there is still a lot of competition and unless they come up with a no-KYC whatsoever exchange with low fees i don't see them becoming big.

[mk4]

if they start doing what ETH and BNB did and start running shitty ICOs called IEO and force the users to buy their token to participate in them, then they can easily compete with these tokens as long as they can scam people into investing in those IEOs just like what Binance has been doing and before that ethereum has been doing the same.

Fortunately, this is very unlikely as far as I know. If I remember correctly, Blockchain.com is mostly based on the US, and I think getting your business legalized with the IEO model is going to be tough as regulations aren't that clear yet.

[Mahanton]

No one could know. Blockchain.com has exists in crypto world since so long ago even before Binance becomes a thing. If they really trying to make an exchange to compete with Binance they'll surely have a loyal userbase for that. But, whether it could really give Binance a good competition or not no one really knows. Also to mention that some people usually will just stick to an exchange or two for convenience without really looking after other exchanges if there's no problem, that'd take sometimes I guess.

It would really matter with users preference on where they would go and also having more exchange would give us more options.Competition is there but i dont think that Binance would easily flop down due to their launch but im sure that this one will create some hype and would get some slice on the entire marketshare.We wont know on what would be the effect and for now lets just see on how this one would perform.

[knuckey]

as one of the old crypto wallet providers, of course blockchain.com has seen this opportunity to grow its business, I also see that their android app has been downloaded 5 million users and this will greatly benefit them if the blockchain wallet can be integrated directly with the exchange they will later. but if their exchange is launched later, it will not affect other exchanges or bnb.

[disconnectme]

Exchange and Wallet business are two different market though there is a horizontal integration  between the two, Coinbase bought Xapo, Binance now has Trust wallet. What I think Blockchain.com is doing is that they have started losing customers to Centralised exchanges and want to have a cut of this.

[Deallove9]

It has nothing to worry of as both the wallet and the exchange are both working for the same aimand that even work for the betterment of the coin , so the ieo is also the influence for the coin to boom soon.

[r32godzilla]

Who knows? We have so many big exchanges, but nobody knows why Binance is still the most favoritest one. Due to low trading fees or only good marketing strategy?