Crypto leaders in a down market - Bitcoin, Binance and Monero - BTC - BNB - XMR

in #bitcoin7 years ago

MoneroChart.png

In a tough Crypto market like it has been lately there are only a few coins that are holding their value. Monero has been pretty steady over the last few months. When the Bitcoin line goes above the U.S. Dollar line (in chart above) that means Monero is out pacing Bitcoin. Since Bitcoin is the by and far leader in the Crypto world there aren't too many coins that will be able to outproduce the returns of BTC over the long haul. I know many don't like the privacy of Monero because of the possible money laundering and shady deals that could be going on with it but I think there is a big demand for a private coin like Monero (who is the king of the private coin world).

Binance1.png

Binance is another coin that is holding it's value compared to Bitcoin. Why is this coin holding its value? Because while Bitcoin is bringing in some big name people with a lot of money, Binance is helping traders move their money into the rest of the market. They are the leader in a very active trading world. When there is buying or selling in the Crypto market Binance is in the center of the traffic. On top of being a trading leader they are destroying 20% of the coins that they are receiving and they have already destroy almost 1 million coins.

See link to article on how Binance is creating value:

https://theripplecryptocurrency.com/3-ways-binance-bnb/

Of course I have not mentioned USDT or the U.S. dollar coin which is being used as a hiding place during down turns like this one. I have been reading that this coin does not have the U.S. dollars to back the coin but never the less it is being used anyway.

If you have a coin that is outperforming Bitcoin let me know? I am always looking for good Alt-Coins.

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