Binance is increasingly becoming centralized and it seems to be emerging as "Apple" of the Crypto Market. CZ has bought coinmarketcap and the site has been shilling about BnB now and then. Not just this, they are evolving as global super power in crypto market and been dominating almost every country. In terms of US, coinbase has been extremely slow and would probably go down during insane sudden price pumps or dumps but this hasn't been the case of Binance as an exchange and they have been providing blazing fast transactions.
Now with the improvements in Binance Chain and their domination, dependency rate on BnB has increased over the months and this was well evidently seen as a sudden price hike. As you said in post #41 too much hype on Binance would make crypto market to shift towards adopting a centralized strategy but ETH on the other hand has been highly decentralized for a reason. But do you think ETH's uncapped supply make them more stable over the future while comparing to BnB's utterly limited supply? Though gas fees has been a concern over the years, I think sacrificing it for centralization should be a no go! When Binance was hacked back in 2019, CZ tried to reverse the bitcoin chain which was a highly frowned upon practice in a decentralized crypto economy but with Binance Chain, he has been trying to launch so many projects into it.
I firmly think this is a path of centralization and CZ is trying to control the economy on the whole. With people in crypto are driven towards profits, BnBs rising numbers will always put a smile on their face even how bad the centralization is happening over
It's been shown from time to time that people don't care about decentralization at all. As long as a cryptocurrency fills their pockets with money, nothing else matters. Sadly, greed has prevailed over decentralization these days. It's no wonder why Binance Chain went from being worth nothing to hundreds of dollars in a few months. The so-called blockchain network may be faster and cheaper to use than Ethereum, but its centralized design brings us back to the corrupt banking system crypto was meant to avoid in the first place. You'd either sacrifice decentralization for scalability/convenience/ease-of-use or vice versa. There's no "middle point" in this.
I'd prefer to stick with Ethereum than Binance Coin because it's the most decentralized smart contract platform on the market today. I'm sure the vast majority of traders and investors alike will do the same decision in the long run. Despite Binance Coin's latest success, it still hasn't been able to outpace Ethereum in terms of mainstream adoption. The world's second-largest cryptocurrency by market cap has the biggest ecosystem of dApps and tokens on the industry. It mimics Bitcoin in terms of security, reliability, and censorship-resistance. While ETH will become less decentralized with the new upgrade, it'll still be the leader of the smart contracts space as other projects will fare worse in the long run.
Some say that BNB's sudden rise is largely attributed to increased interest in PancakeSwap as a result of Uniswap's ever-increasing fees. That could change soon, with Uniswap V3. It is said that the new iteration of Uniswap will make use of off-chain scalability solutions in order to provide its users with low fees and near-instant transactions regardless of ETH's current network congestion. If the rumors are true, then both UNI and ETH will explode in price at a very fast pace. Ultimately, people will decide which coin to support depending on specific needs in daily life. Just my thoughts
