Experts Wrangling Over Market Leaders: Ethereum (ETH), Ripple (XRP), or Binance Coin (BNB)

Experts Wrangling Over Market Leaders: Ethereum (ETH), Ripple (XRP), or Binance Coin (BNB)

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Bitcoin goes sideways and continues to lose its market share. Bitcoin Dominance dropped below 50%. Experts predict a rally in large-cap altcoins.

There were only three periods in the history of the cryptocurrency market when Bitcoin Dominance dropped below 50%: in June 2017 (down to 37.8%); in January 2018 (32.8%) and in May 2018 (36%). However, in 2017-2018. the market depended on retail investors. Retail investors are prone to impulsive actions, they create turbulence in the market.

Institutionals now define the landscape, and their actions are usually logical and well thought out. Therefore, the danger of turbulence is much less. However, the redistribution of market shares may now be long-term. Experts suggest looking at three large-cap cryptocurrencies: Ethereum (ETH), Ripple (XRP), and Binance Coin (BNB). Each of them can demonstrate a rise that is faster than the market growth but for different reasons.

Ethereum is trying to solve the problem of rising fees on the network, which scares off DeFi projects. Over the week, the average transaction fee on the Ethereum blockchain has already dropped by 80%, from $11.3 to $2.2. However, this drop most likely happened not due to better performance, but due to the shifting of DeFi projects to other blockchains, such as Binance Smart Chain or Tron Chain. Nevertheless, due to the decrease in fees, the ETH has returned to the growth trajectory, experts say.

Binance Coin (BNB) continues to rally, although the rise is not as strong as a week ago. BNB’s growth is backed by good blockchain performance and low fees. This makes it possible to launch DeFi projects more profitably than on Ethereum blockchain. Perhaps in the future, Binance Smart Chain will also face a performance problem, and then fees will rise, and the price of BNB will drop. But so far, according to experts, this is still a long way. In addition, the BNB price is pushed up by the expansion of Binance trading functionality due to tokenized shares of technology companies.

Recently there was a listing of MicroStrategy tokens, Apple and Microsoft tokens will be listed by the end of April. The tokens are traded in pairs with Binance’s own stablecoin Binance USD (BUSD) and are backed by real shares owned by the German firm CM-Equity AG.

XRP’s good prospects go from the fact that it is the only big cap cryptocurrency that hadn’t hit its all-time high (ATH) since 2018. This is not a serious reason for rising given that Ripple is still a defendant in a lawsuit commenced by the Securities and Exchange Commission (SEC). However, according to technical analysis, an ATH upgrade above $3.84 is almost inevitable amid the general market growth. This means a 180% rise in XRP.

Market experts also suggest looking at large-cap altcoins like Maker, VeChain, EOS, Stellar, Cardano, and Uniswap.