In the crypto world, one of the main argument advanced by the "Bitcoin supremacist" is the decentralization. However, a centralized platform is becoming more and more important day after day. Indeed, Binance seems to be crushing the competition. FTX, Crypto.com, Coinbase, Kraken, there are many other platforms, but none has as much features as Binance. Plus, the features are rather easy to use, which permits to the beginners to use Binance too.
The influence of the CEO : CZ
Cz, Binance's CEO, is becoming more and more influent in the crypto world, and so in the financial world. Indeed, he is taking advantage from the success of his platform on the social networks, especially Twitter. Indeed, he just reached 800 000 subscribers today. He is very active and many influencers follow him, from the crypto environment, the nex technologies but also from other sectors.
He doesn't hesitate to promote his platform and during this bullrun, Binance is having a lot of success.
However, Binance has had some trouble with the recent news around Tesla. Indeed, it was impossible to withdraw your funds and sometimes hard to connect to your account. Of course, almost every platforms had those problems too, but FTX seems to be more resistant to these audience fluctuations.
The Binance Smart Chain is overtaking Ethereum
The Binance Smart Chain is having a very huge success compared to the Ethereum one, due to its very low transaction fees. Thus, many projects on the Binance Smart Chain have taken advantage of it. The example of PancakeSwap overtaking SushiSwap in daily volume exchange illustrates it perfectly. CZ has even promoted his low fees in another tweet.
Useful and promising tokens
The BNB is currently performing very very well, that's pretty impressive (I regret not buying BNB as I felt like it was going to pump, but it's too easy to say it now). And we can explain that because of the utility of the tokens. By the way, the BUSD is also useful on the platform.
Why ? To reduce fees, to use the Binance Smart Chain, the Binance launchpool and the Binance Vault. I think I might make a full review of those last two features in a future article, but to sum up very quickly, by staking the Binance native tokens, you can earn tokens from different projects that Binance wants to promote.
And you, what do you think about Binance ?
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