BNB puede evitar ETH en las principales criptomonedas
The cost of Binance Coin (BNB) for the month rose by 560%, starting from $40 and adding $300 in a short period of time. This new ATH has impressed traders that the volume of cryptocurrency trading has increased several times
Despite the recent correction, cryptoanalyst Nicholas Merten believes that the coin will definitely rise further. In his video on this topic, he says that Binance Smart Chain (BSC), compatible with the Ethereum blockchain, is gaining momentum.
The number of users is constantly growing. Projects from DeFi and play space migrate to Binance to avoid high commissions. Thanks to this, DEX PancakeSwap (CAKE), which operates on Binance Smart Chain, recently bypassed its rival with Ethereum - DEX Uniswap.
According to Merten, there are similarities between ETH and BSC blockchains, allowing projects to easily migrate from one platform to the other. The advantage of Binance Smart Chain is the presence of a select number of validators. This makes the chain more centralised. But transactions pass quickly and commissions are almost non-existent.
Until Ethereum 2.0 is finally launched (deployment may take years), projects like Binance Smart Chain can be a good solution to scalability and high commissions for DeFi and other cryptocurrency startups.