With all of the Bitcoin price swings and extreme FOMO happening in the market, we need to stay attentive to the progress of projects more than ever. When the market prices draw attention away from development, we could potentially enter another devastating bubble. Investors go all in on projects during bubbles with only a white paper and get wiped out from margin trading in a single day. We do not want to reset investor confidence in this space before the real bull run takes over.
Those of you who have been in the market for more than 5 years and have experienced these pumps before need to step up and lead in times like this. Yes, price action is amazing, but it overall draws away from the progress and adoption we have worked so hard to obtain. The market still has a very long way to go, so by no means is this a moon shot or a final destination for Bitcoin.
The Future is Here
That being said, there are some amazing things happening in the market from a use case scenario.
This transaction: cost $0.015 USD in fees, took 1.1 seconds, and $1.2 BILLION in value transferred.
The future is here. https://twitter.com/whale_alert/status/1143799965338259456 …
32,888,888 #BNB (1,230,345,109 USD) transferred from unknown wallet to unknown wallet
Tx: https://whale-alert.io/transaction/binancechain/00B41E4CCB8B977C78E20C19B8A0E39E572FCC80F53AA009163FA08B0AD57DE9 …
CZ caught a glimpse of something that 10 years ago would have been impossible. A whale moved approximately $1.2 billion in Binance coin in only 1.1 seconds. On top of that, the fee for such a large and enormous transfer only cost the whale a grand total of $0.015 USD. Easy to say with this kind of availability across borders, the world is starting to take notice.
Many companies are now diving deep into blockchain technology with hopes of achieving some solutions to empower themselves and enter this emerging market do to stories like this one.
Binance Chain Power
The credit for this large transfer really goes to the Binance team and their Binance Chain. With the adoption of so many projects, Binance chain could potentially look to challenge the industry leader, Ethereum, in the coming bull market. Daily, BNB seems to be added to some exchange or supplied with some new form of liquidity further solidifying its place.
No one would have ever thought that an exchange token would be so powerful. Yet, the use cases for BNB are now far out weighting most of the other top currencies in the market, and it is showing in their price growth over the past several months.
For BNB to over take Ethereum, there would need to be a massive purge on the token market supporting Ethereum and liquidity pools. Although with ETH 2.0 coming to market soon, I personally do not think it will happen any time soon.
Ethereum 2.0 Coming in 2020
Ethereum 2.0 is now planned to be launched on January 3, 2020. Previously, this update was projected to be released at the beginning of 2019, but there were vital bugs found throughout the coding language and consensus protocols which halted all progression.
Investors will remember this as a rocky time for market prices. It all seemed to be turning around until these delays were announced and prices dipped even further into the all time lows since early 2017. In hindsight, there was never anything to really worry about. We are here now and the date has been set for the launch of ETH 2.0. We only have to hope that this time, the update is completed.
In addition, remember that it will take 32 Ethereum to stake a node. It might be a good idea to acquire these ETH before the 2.0 launch gets here.